The federal government is reportedly seeking $200
million “soft credit” from Germany for the establishment of a development bank.
Minister of Finance, Ngozi
Okonjo-Iweala, announced this today, when a delegation of
the German Government visited her in Abuja, Punch reports.
The purpose of the visit was for the minister to
educate the German delegation on current economic developments in
Nigeria.
In addition to revealing the country’s industrial
revolution plan and discussing the nation’s status as the largest economy in
Africa, Okonjo-Iweala also expressed that a Nigerian development bank
is necessary to ensure long-term loans for development of the
country.
Gerd Mueller, who is Germany’s
Minister of Development Operations, reportedly promised that the German
Government would look at requests for assistance made by the Federal
Government, especially support for economic development.
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