World Bank Approves $3 Billion Loan for Nigeria, The Cable Says

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The World Bank has approved a $3 billion loan for Nigeria to expand its electricity transmission and distribution infrastructure, The Cable reported.

The loan will be released in four tranches of $750 million each and could be expanded to $4 billion, the Lagos-based online newspaper reported, citing Finance Minister Zainab Ahmed.

Nigerian authorities will visit the World Bank in April to receive the first installment of the loan, according to the newspaper.

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