FEC approves $1.3bn Foreign Loans for Development Bank

The Federal Executive Council on Wednesday approved credit facilities totalling $1.3bn for the newly-established Development Bank of Nigeria.

The Minister of Finance, Mrs. Kemi Adeosun, disclosed this to State House correspondents at the end of a meeting of the council presided over by President Muhammadu Buhari.

Adeosun was joined at the briefing by the Minister of Budget and National Planning, Udo Udoma; Minister of State for Health, Osagie Ehanire; and the Senior Special Assistant to the President on Media and Publicity, Garba Shehu.