CBN’s $10.50m funding not loan but grant – World Bank

The World Bank has clarified that the planned $10.50m financing to the Central Bank of Nigeria is a grant, not a loan.

According to a source at the World Bank who spoke to our correspondent under the condition of anonymity on Friday, the amount is being provided under the Finance for Development Multi-Donor Trust Fund as part of a partnership between the World Bank and the CBN.

It was earlier reported that Nigeria had approached the World Bank…