{"id":18773,"date":"2017-10-31T16:37:02","date_gmt":"2017-10-31T15:37:02","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=18773"},"modified":"2017-10-31T16:37:02","modified_gmt":"2017-10-31T15:37:02","slug":"afdb-backs-fgs-economic-recovery-plan-denies-loan-cut-off-nigeria","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/afdb-backs-fgs-economic-recovery-plan-denies-loan-cut-off-nigeria\/","title":{"rendered":"AfDB Backs FG\u2019s Economic Recovery Plan, Denies Loan Cut-Off To Nigeria"},"content":{"rendered":"<p>The African Development Bank (AfDB) has commended the Federal Government\u2019s Economic and Growth Recovery Plan (EGRP), while denying a report that the bank has called off loans to Nigeria.<\/p>\n<p>A statement on the bank\u2019s website on Tuesday, denied the loan cut off credited to AfDB\u2019s Vice-President for Power, Energy, Climate and Green Growth, Mr Amadou.<\/p>\n<div>\n<div class=\"responsive slider toSlickSlider2 slick-initialized slick-slider\">\n<div class=\"slick-list draggable\">\n<div class=\"slick-track\" role=\"listbox\">\n<div class=\"slick-slide slick-current slick-active\" role=\"option\">The bank also commended the Federal Government\u2019s efforts to stem corruption and strengthen fiscal consolidation and efficiency in the country.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>According to the statement, in November 2016, the Board of the African Development Bank approved a 600 million dollars loan to support Nigeria\u2019s efforts to cope with macro-economic and fiscal shocks that arose from the massive decline in price of crude oil.<\/p>\n<p>\u201cAn additional 400 million dollars 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 International Monetary Fund.<\/p>\n<p>\u201cThe African Development Bank wishes to categorically refute the statement that it has \u201ccalled off loans to Nigeria\u201d, as reported in Reuters and credited to AfDB Vice-President for Power, Energy, Climate and Green Growth Amadou<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>\u201cThe AfDB is highly encouraged by the economic recovery of Nigeria from recession and salutes the government\u2019s efforts towards diversification of the economy.<\/p>\n<p>\u201cThe Bank also strongly supports the Economic and Growth Recovery Plan of the government and efforts to stem corruption and strengthen fiscal consolidation and efficiency.<\/p>\n<p>\u201cThe Bank assures the Nigerian Government of its full support for its continued reforms to diversify the economy and boost economic growth and development,\u2019\u2019 it said.<\/p>\n<p>The News Agency of Nigeria recalls that some sections of the media reported that the bank had cancelled proposed the 400 million dollars loan to Nigeria.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The African Development Bank (AfDB) has commended the Federal Government\u2019s Economic and Growth Recovery Plan (EGRP), while denying a report that the bank has called off loans to Nigeria. A statement on the bank\u2019s website on Tuesday, denied the loan cut off credited to AfDB\u2019s Vice-President for Power, Energy, Climate and Green Growth, Mr Amadou. &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":18775,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[17],"tags":[682],"coauthors":[2391],"class_list":["post-18773","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-afdb"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AfDB Backs FG\u2019s Economic Recovery Plan, Denies Loan Cut-Off To Nigeria - 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