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France May Double Aid to Nigeria to $340 Million This Year


Wednesday, 13 April 2016

France May Double Aid to Nigeria to $340 Million This Year

France’s development agency may double aid to Nigeria this year to 300 million euros ($340 million) with a focus on urban infrastructure, access to energy and small-to-medium-size business financing. The agency, known by the French acronym AFD, spent 145 million euros last year and is expecting to commit between 200 and 300 million euros this year, Olivier Delefosse, the agency’s country director said at a conference late Tuesday. The commitment comes as Africa’s biggest oil producer battles Islamist militant group Boko Haram in the northeast, a conflict in its seventh year. A government report this week said the insurgency had caused damage worth $9 billion, with $6 billion needed in the near-term for rebuilding efforts. More than 20,000 people have been killed in the conflict and some 1.8 million displaced, according to the government.

Source: bloomberg.com