World Bank in talks to provide $1.5 bln budget finance to Nigeria

The World Bank said on Friday it was in talks with Nigeria to provide $1.5 billion in financing, at the request of the government, to support key policy reforms.
World Bank spokesperson Mansir Nasir said, the Development Policy Financing (DPF) provides direct budget financing and supports countries with reforms to policies and institutions that boost economies and specific sectors.
He said, the DPF is currently under preparation, with discussions between the World Bank and the Nigerian government at an advanced stage.
Nasir said, “As is standard, upon the successful conclusion of the preparation stage, the operation will be presented to the Board for approval.”