Undisbursed loans may drive Nigeria’s debt to the World Bank from $12.72bn to $21.15bn
This shows that the yet-to-be disbursed loans can increase Nigeria’s debt to the lending institution by 66.27 percent.
The audited financial statements of the World Bank for the fiscal year 2022 showed that the bank was yet to disburse about $8.12bn to Nigeria as of June 30, 2022.
A breakdown further showed that the undisbursed loans included $7.60bn from the International Development Association, IDA, and $514m from the International Bank for Reconstruction and Development, IBRD.
These undisbursed loans encompass loans approved but not signed as well as the signed loan commitment
