Cross River To Benefit From European Union’s 1.4 Billion Dollars Loan to Nigeria

By Ogar Monday

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Cross River State is set to benefit from a European Union $1.4 billion loan facility that aims to help Nigeria diversify its economy away from oil.

According to Bloomberg, the funds sourced from the EU and its development finance institutions are for projects in agriculture, climate change, and the digital economy.

Samuela Isopi, the EU Ambassador to Nigeria and the Economic Community of West African States said in Lagos that the money will help the country “achieve a low carbon, resource-efficient and climate-resilient development, creating jobs for youth and economic growth.”

Isopi added that the funds will among other things help finance a waste-to-energy initiative in Cross River State.

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