FG wants Quick Release of AfDB Loan to Fund Budget

The Minister of Budget and National Planning, Udoma Udo Udoma, has urged the African Development Bank (AfDB) to fast-track the disbursement of the one billion dollar budget support facility it promised the country.

The pan-African bank had recently promised to extend a billion dollar loan support facility for the 2016 budget.

The loan is expected to cover the 35 per cent shortfall in the 2016 budget.

Udoma, who made the appeal in Abuja at a meeting with an AfDB team at the weekend, thanked the bank for its support.

myfinancialintelligence.com