…Backs issuance of Panda Bond
The Chinese government has promised to back Nigeria’s requests for an increase in currency swap line, urging Nigeria to issue Panda Bond in China.
Chinese Foreign Affairs Minister Wang Yi, dropped this hint at the Presidential Villa, Abuja on Thursday, while fielding questions from State House Journalists after meeting with President Bola Tinubu.
Yi, stated that “the currency swap agreement shows how well we have carried out our financial cooperation and sustained its momentum
Read also: NGX records N12.17trn worth of FGN Bonds, Corporate listings in 2024
Also speaking on Nigeria’s wish to increase the line of the currency swap, Yi, said ” we will favorably study and consider the issue, our cooperation is going well in many ways,”
He expressed confidence in economic cooperation with Nigeria, especially in the areas of finance, adding that “We welcome the panda bonds to be issued. We welcome Nigeria to issue panda bonds in China, because we have full confidence in Nigeria’s credibility.”
” By issuing panda bonds, Nigeria will gain good revenue and the safety is guaranteed through financial support, we are working to contribute to Nigeria’s infrastructure development in particular railway,” Yi said.
Details shortly…
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