News Column

Islamic bank grants $678m for Nigeria infrastructure

January 27, 2014

The Islamic Development Bank (IDB) has earmarked $678 million to finance trade and infrastructure development in Nigeria this year, according to the bank's Vice President.Birama Boubacar Sidibe told journalists in Abuja on Monday that Nigeria was one of the bank's shareholders. `` Half of the money will be devoted to finance trade, and the rest on education, health, agriculture and power, water and sanitation. ``Infrastructure financing in Nigeria , mainly electricity generation and distribution, may lead to the need for connectivity he said. On the power sector, he said: ``Because of the ambitious and realistic privatisation programme, we are pleased to learn that the process that led to the selection of private sector operators in Nigeria could be able to be associated as operators in the generation and distribution.Â

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Source: Agence de Presse Africaine

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