Bill And Melinda Gates Foundation Is Paying Off Nigeria’s $76M Polio Debt

As Nigeria’s battles on to become a polio-free country, Bill and Melinda Gates have taken an extraordinary step to give Africa’s largest economy a helping hand through their foundation.

polio-vaccination-in-nigeriaThe foundation will pay off a $76 million loan taken from Japan to aid the fight against polio. The loan was taken in 2014 and repayments were due to begin this year. A Gates Foundation spokesperson confirmed the loan repayment in an email to Quartz. Gates Foundation says it agreed to repay the loan after Nigeria 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 be repaid over a period of 20 years.

Source: Quartz Africa/Yumi Kazeem

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