IslamicFinance.de

According to Minister of State for Finance, Alhaji Yerima Ngama, discussions reached advanced stage between the federal government and the Islamic Development Bank (IDB) to secure a $600 million-loan for infrastructure development in the country.
He added that the loan which is on a three to four-year borrowing plan without interest had already passed the screening stages and would soon be made available for federal and state government projects, but there were some criteria yet to be satisfied by government before it could get the funding.
For example, he said some of the projects which funding was being sought for have not actually begun. Therefor, he noted that there was need to apply for funds ahead of time.