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World Bank Approves $2.1bn Loan For Nigeria

The World Bank has announced the approval of $2.1bn loan for seven projects to be executed in Nigeria.

A statement issued in Abuja on Thursday said the loans were approved in Washington DC on Wednesday and were for seven projects to support Nigeria’s investment in nutrition, access to electricity, states’ fiscal transparency, polio eradication, women’s economic empowerment, public finance and national statistics, and reducing vulnerability to soil erosion.

The World Bank Country Director for Nigeria, Rachid Benmessaoud, was quoted to have said, “The Federal Government of Nigeria’s Economic Recovery and Growth Plan identifies human capital investment, restoring growth and building a competitive economy as its key pillars.

“This vision for a healthy, educated, productive and resilient population must be complemented by credible governance in order to attract private sector participation and ensure sustainable growth. The approved projects support the implementation of the government’s growth plan. According to the statement, the World Bank Group has extended its Country Partnership Strategy for Nigeria until June 30, 2019.

 

 

 

 

Source: Punch

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