The African Development Bank
(AfDB), has denied calling off loans to Nigeria, saying the bank instead is in
consultations with the government on how best to continue its support for
laudable economic recovery, reports ITRealms.
Director, Communication and External Relations at AfDB, Dr.
Victor Oladokun, told ITRealms that the bank categorically refutes the
statement that it has “called off loans to Nigeria”, as reported in Reuters and
credited to AfDB Vice-President for Power, Energy, Climate and Green Growth
Amadou Hott.
According to Oladokun, the African Development Bank is
highly encouraged by the economic recovery of Nigeria from recession and
salutes the government's efforts towards diversification of the economy.
The bank, he also said, strongly supports the Economic and
Growth Recovery Plan of the government and efforts to stem corruption as well
as strengthen fiscal consolidation and efficiency.
He pointed out that in November 2016, the Board of the
African Development Bank approved a $600-million loan to support Nigeria's
efforts to cope with macroeconomic and fiscal shocks that arose from the
massive decline in price of crude oil.
“An additional $400 million in support could be considered,
if requested and approved by the Board, as part of a larger coordinated effort
with other development partners, including the World Bank and the InternationalMonetary Fund,” he said.
AfDB, he insisted is in consultations with the government on
how best to continue its support for its laudable Economic and Growth Recovery
Plan through investment projects that will help address existing structural
challenges, including infrastructure, power, agriculture and support to boost
private sector and job creation.
The bank further reassures the Nigerian government of its
full support for its continued reforms to diversify the economy and boost
economic growth and development.
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