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FG Seeks $200 Million “Soft Credit” from Germany

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Ngozi-Okonjo-Iweala- Bella Naija

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.

4 Comments

  1. @edDREAMZ

    June 12, 2014 at 5:17 pm

    a.k.a EDWIN CHINEDU AZUBUKO said…
    .
    Anything to develop the nigerian economy is a welcome development for me…..
    .
    .
    ***CURRENTLY IN JUPITER***

  2. SOLO ACT

    June 12, 2014 at 8:08 pm

    GERMANY PLZ OO! DONT GIVE NIGERIA MONEY!! OUR LEADERS WILL USE IT TO BUY PRIVATE JET AND DO WEDDING FOR THEIR CHILDREN

  3. omalichaspeaks.blogspot.com

    June 12, 2014 at 9:25 pm

    Ndi oshi. Please what is soft about $200m? Germany please stop enriching our greedy leaders.

  4. Amh

    June 12, 2014 at 9:50 pm

    Please dont even think about it. The loan is to be used for private jet, mistresses,tithe donation, wedding party and. Oh sorry native doctor donation. Useless greedy lots. Maggot infested administration. Lootocracy is what is practised in nigeria.

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