Nigeria to Sign Off on $3 Billion in Chinese Loans

Nigerian President Goodluck Jonathan will travel to China next week to sign off on $3 billion in Chinese loans to build infrastructure in Africa’s most populous country, the finance minister said on Wednesday.
The agreed loans will come from the Chinese government and will be based on interest rates of less than three percent over a 15-20 year period, Minister of Finance Ngozi Okonjo-Iweala said.
The deal underscores increasing Chinese interest in Africa and its resources – …

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