Bill Gates To Repay Nigeria’s $76m Polio Debt - Business
Nigeria has authorised Bill and Melinda Gates Foundation to start the repayment of $76 million polio eradication loan to Japan. The Minister of Finance, Mrs Kemi Adeosun, made this known in Abuja on Tuesday when she received a delegation of Japanese House of Councillors Parliamentarians. She said that the delegates were in Nigeria to assess the level of usage of Overseas Development Assistance (ODAs) extended to Nigeria since 2014. She added that the authority to trigger repayment was given to Bill and Melinda Gates Foundation following the eradication of polio in the country. She noted that the eradication of polio was made possible as a result of the ODA facility provided by the Japanese Government valued at $76 million in 2014. She recalled that the ODA was structured for repayment after four years and that by this development, Bill and Mellinda Gates Foundation would start repaying the facility to Japan this year. Adeosun while marketing Nigeria to the Japanese delegation noted ...