Just over $32 Billion Provided in Budget or Repayment of Loans

Just over $32 billion has been set aside in the 2017/18 Estimates of Expenditure, now before the House of Representatives, for the Government’s repayment of loans to several bilateral and multilateral institutions.

These include $11.9 billion to the Inter-American Development Bank (IDB) in relation to capital, infrastructure and social development, agriculture, education and technical assistance, and liquidity and health support.

A sum of $5.63 billion is also set aside for World Bank repayments for similar engagements, in addition to fiscal and debt sustainability support.

A total of $1.26 billion has been earmarked for loan repayments to Japan, which provided support for several infrastructure development and agricultural sector adjustment projects.

Also included is the sum of just over $1 billion to cover repayments to the United States Department of Agriculture (USDA) for support extended for the importation and sale of agricultural products and commodities, including corn, flour, rice and wheat for the Government’s nutrition programme.

The United States Agency for International Development (USAID) is also slated to receive loan repayments totalling $379.9 million for balance of payment support and projects for infrastructure and social development, agriculture, education and mining.

Meanwhile, $12.03 billion will be repaid to other bilateral and multilateral lending agencies.