Bill Gates charitable foundation has agreed to pay Nigerias debt to Japan so the African nation can become polio-free.
The Bill and Melinda Gates Foundation announced it will shoulder the $76m debt for Africas largest economy, which is recovering from its first recession in 20 years.
Nigeria originally took the loan in 2014 and payments are set to start this year and will be repaid over a 20-year period.
The loan was part of Overseas Development Assistance (ODA) provided by the Japanese government in 2014 for increased polio eradication efforts.
According to Quartz Africa, the Gates Foundation agreed to pay the loan on Nigerias behalf after the country achiev[ed] more than 80% vaccination coverage in at lea…
Read the full article at: http://www.independent.co.uk/news/world/africa/bill-gates-nigeria-debt-pay-polio-eradication-foundation-money-pledge-a8163056.html