World Bank Loan for Power Sector Reform- Finance Minister

In News 2019-10-17 16:58:10
World Bank Loan for Power Sector Reform- Finance Minister
World Bank Loan for Power Sector Reform- Finance Minister

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed says the $3bn loan being sought by the Federal Government from the World Bank would be deployed for reforms in the power sector.

 

She said this during an interview with journalists on the sidelines of the World Bank/International Monetary Fund meetings holding in Washington DC, United States.

 

Ahmed, who is leading the Federal Government’s delegation to the meeting disclosed that she would be holding further discussions with the management of the Bank to present how the fund would be disbursed for the project.

 

She said the loan would be used for the development of transmission and distribution networks to enhance the delivery of electricity, based on the plan of the Federal Government for the power sector.

 

Ahmed further added that the loan would be used in addressing some of the challenges that the country is currently facing in the power sector.