Minister of Foreign Affairs Geoffrey Onyeama has told reporters on President Muhammadu Buhari’s entourage that China has made an offer of $6b loan to support infrastructure projects in Nigeria.
“It is a credit that is on the table as soon as we identify the projects.
“It won’t need an agreement to be signed; it is just to identify the projects and we access it,” he said.
In another development, the Industrial and Commercial Bank of China Ltd, ICBC , the world’s biggest lender, and the Central Bank of Nigeria CBN signed an agreement on yuan transactions on Tuesday, said a Chinese Foreign Ministry official.
“It means that the renminbi (yuan) is free to flow among different banks in Nigeria and the renminbi has been included in the foreign exchange reserves of Nigeria,” said Lin Songtian, Director General l of the Foreign Ministry's African Affairs Department.
The agreement was the outcome of a meeting between President Muhammadu Buhari and Chinese President Xi Jinping.
Posts
0 comments:
Post a Comment