The Finance Ministry says the first tranche of the three billion dollar loan facility from the China Development Bank should be available before the end of the year.<\/p>\n
The International Monetary Fund yesterday gave the green light for the country to access the facility by raising the non-concessional borrowing cap from 800 million dollars to 3.4 billion dollars.<\/p>\n
The monies are critical for key infrastructure projects including a gas pipeline that will convey gas from the Jubilee Field onshore for electricity generation and other purposes.<\/p>\n
Deputy Finance Minister, Seth Terkper explained to Joy Business there are few more subsidiary agreements which have to be approved by parliament.<\/p>\n
He believes the House will pass the subsidiary agreements at its next sitting \u201cbecause these are critical infrastructure.\u201d<\/p>\n
\u201cThe expectation of government is that Parliament will pass the subsidiary agreements which are consistent with the [master plan] anyway, before they rise,\u201d he noted.<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
The Finance Ministry says the first tranche of the three billion dollar loan facility from the China Development Bank should be available before the end of the year. The International Monetary Fund yesterday gave the green light for the country to access the facility by raising the non-concessional borrowing cap from 800 million dollars to 3.4 billion dollars. The monies are critical for key infrastructure projects including a gas pipeline that will convey gas from the Jubilee Field onshore for electricity generation and other purposes<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-14356","post","type-post","status-publish","format-standard"],"yoast_head":"\n