The International Monetary Fund (IMF) is expected to recommend the approval of 3.4 billion dollars in emergency funding for Nigeria as part of measures to cushion the impact of COVID-19 on the nation’s economy.

The loan, which is scheduled to be repaid in not more than five years, is considered the largest allocation by the IMF to an African country to assist with the corona virus pandemic.

Minister of Finance, ZAINAB AHMED, earlier this month referred to the loan as part of funds being expected to aid the country’s battle against the pandemic.