Tuesday, September 27, 2011

Nigeria To Obtain Diaspora Bond to Finance Projects -Okonjo-Iweala

African Examiner
26 September 2011

The minister of finance Ngozi Okonjo-Iweala says Nigeria will look into obtaining
a diaspora bond as a way of alternative funding to support developmental projects
in the country.

The minister stated this in Washington DC at a press conference with Nigerian
journalists covering the annual meetings of the World Bank and IMF.

Her words “In term of alternative finance, we are discussing to look into diaspora
bond.  We had excellent meetings with the World Bank and the US treasury
because if we are going to look into diaspora bond, we need the support of the
US treasury and the UK treasury. We want to tap into diaspora bond in order to
support developments in Nigeria.”

A diaspora bond is a debt instrument issued by a country or a private corporation
to raise financing from its overseas diaspora.

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