Bill Gates’ charitable foundation has agreed to pay Nigeria’s Debt to Japan so the African nation can become polio-free.
According to Quartz, the loan was taken in 2014 and repayments were due to begin this year. A Gates Foundation spokesperson spoke to the news outlet and said that they decided to take on Nigeria’s debt after they “met the condition of achieving more than 80% vaccination coverage in at least one round each year in very high risk areas across 80% of the country’s local government areas.” The loan will reportedly be repaid over a period of 20 years.
According to Quartz, the loan was taken in 2014 and repayments were due to begin this year. A Gates Foundation spokesperson spoke to the news outlet and said that they decided to take on Nigeria’s debt after they “met the condition of achieving more than 80% vaccination coverage in at least one round each year in very high risk areas across 80% of the country’s local government areas.” The loan will reportedly be repaid over a period of 20 years.
