Global News

World Bank finally approves $1.5 billion loan for Nigeria

World Bank finally approves $1.5 billion loan for Nigeria (Updated: Friday, 18th December 2020, 08:59 PM)


World Bank finally approves 15 billion loan for Nigeria 

The World Bank has finally endorsed Nigeria’s request for a $1.5 billion loan, which is believed to strengthen the

World Bank Country Director for Nigeria, Shubham Chaudhuri said;

“This Country Partnership Framework will guide our engagement for the next 5 years in supporting the Government of Nigeria’s strategic priorities by taking a phased and adaptive approach.

“This country partnership framework will guide our engagement for the next five years in supporting the government of Nigeria’s strategic priorities by taking a phased and adaptive approach.

“To realize its long-term potential, the country has to make tangible progress on key challenges and pursue some bold reforms. Our engagement will focus on supporting Nigeria’s efforts to reduce poverty and promote sustained private sector-led growth.”

World Bank Board of Directors approved the $1.5 billion for two projects, which include: Nigeria Covid-19 Action Recovery and Economic Stimulus – Program for Results (Nigeria CARES) and the State Fiscal Transparency, Accountability and Sustainability Program for Results (SFTAS).

The CPF will focus on four areas of engagement which include investing in human capital by increasing access to basic education, quality water, and sanitation services; improving primary healthcare; and increasing the coverage and effectiveness of social assistance programs.

It will also focus on boosting digital infrastructure, and developing economic corridors and smart cities, to provide Nigerians with improved livelihoods.

 Bretton Woods financial institution in a statement released on Tuesday December 15, said the loan facility is a five-year Country Partnership Framework (CPF) that will last till 2024.

the West Africa nation’s economy.

 

1


Add a coment

Recent Posts

Lil Kesh
Lil Kesh
Moelogo
Moelogo
Oxlade
Oxlade
Laycon
Laycon
OmoAkin
OmoAkin
Umu Obiligbo
Umu Obiligbo
King Perry
King Perry
Kwesi Arthur
Kwesi Arthur
Ayanfe Viral
Ayanfe Viral
Johnny Drille
Johnny Drille
Ozzybee
Ozzybee
Yung6ix
Yung6ix
Fuse ODG
Fuse ODG
Demmie Vee
Demmie Vee
Ceeza Milli
Ceeza Milli
Sinach
Sinach
Yomi Blaze
Yomi Blaze
S Gee
S Gee
Bad Boy Timz
Bad Boy Timz
Dr Dolor
Dr Dolor
Ichaba
Ichaba
Aramide
Aramide
Lilyungage
Lilyungage
Zuchu
Zuchu
Davido
Davido
Boy Spyce
Boy Spyce
Burna Boy
Burna Boy
A-Q
A-Q
Madrina
Madrina
BlackMagic
BlackMagic
OlaDips
OlaDips
KayKay...
KayKay...
Darey
Darey
Sarz
Sarz
Sugarboy
Sugarboy
Rema
Rema
Waconzy
Waconzy
Timaya
Timaya
Magixx
Magixx
Wale Turner
Wale Turner
NAIJAKIT.COM

Trending Posts