Nigeria Recieves N8.9Billion Debt Relief From Germany

General Updates

Posted by Shollay April 29, 2020

Germany To Rename Streets After African Liberation Fighters

Germany has granted Nigeria a debt relief worth €22.4 million (N8.9bn).

Naija News recall that it was reported on Tuesday that the European nation gave out an additional €5.5million to Nigeria.

In a further development, in a statement on Tuesday, Germany, which has Europe’s largest economy, said the debt relief comes in addition to its support of the pandemic response globally.

“In 2020, the German treasury relieves Nigeria of debt repayments amounting to €22.4 million (N8.9bn),” the statement said.

Germany also noted it has pledged a total of €12 million (N4.8bn) in additional support to the West Africa Health Organisation, the regional health institution of the ECOWAS.

The debt relief from Germany comes after the International Monetary Fund (IMF) approved the sum of $3.4 billion as requested by the Nigerian government for emergency support.