ABUJA, April 4 China has offered Nigeria a $4.5 billion loan for agricultural machinery and infrastructure, a Nigerian state governor said on Tuesday.
Abdulaziz Yari, governor of Zamfara state, told reporters the loan had a 20-year repayment period at an interest rate of 1 percent. He chairs the forum of Nigeria's state governors.
"China is giving us a credit line of $4.5 billion for the procurement of strategic machinery for rural development and agriculture," he said. He added that the agriculture minister would present the offer to cabinet colleagues on Wednesday and it would be considered by lawmakers for final approval.
(Reporting by Felix Onuah; Writing by Alexis Akwagyiram; editing by John Stonestreet)
Fairfax Financial to sell 12.2 pct of Indian insurer ICICI Lombard
MUMBAI, May 27 Canada's Fairfax Financial Holdings plans to sell a 12.2 percent stake in its Indian joint venture insurer ICICI Lombard in a deal that will value the company at 203 billion rupees ($3.15 billion), the Indian company said on Saturday.