The DMO on its portal on Sunday listed a number of foreign
loans that were to be disbursed as of December 31, 2020.
The disbursement of the loans will take the country’s total
foreign debt commitment to more than $37.8bn.
Our correspondent reports that the country’s external debt
as of September 30, 2020 stood at $31.99bn.
A table provided by the DMO titled ‘External loans signed
but yet disbursed as at December 31, 2020’ showed that a larger percentage of
the loans would come from the International Development Association, a member
of World Bank Group.
The outstanding loans from the group stands at about
$3.27bn.
Another $1.25bn is supposed to come from the Export-Import
Bank of China. Apart from multilateral agencies, China has remained the
nation’s largest creditor.
Other major sources of the undisbursed funds include Agence
Francaise de Development from where the country will get more than 500 million
Euros and the European Development Fund from where the country will collect
about $425m.
The DMO also listed the projects and agencies that would
benefit from the undisbursed funds.
These include Nigerian Supply of Rolling Stock and Depot
Equipment for Abuja Light Rail Project, the Nigerian Greater Abuja Water Supply
Project, Nigerian National Information Communication Technology Infrastructure
Backbone Phase II Project; Four Airport Terminals Expansion Incremental
Project, the Nigerian Four Airport Terminals Expansion Ancillary Project.