World Bank

The World Bank yesterday approved $750 million International Development Association (IDA) credit to support the Nigeria State Action on Business Enabling Reforms (SABER) Program-for-Results. The Washington-based institution which disclosed this in a statement yesterday, explained that the IDA credit would help Nigeria accelerate the implementation of critical actions that will improve the business enabling environment […]

The World Bank Group President, David Malpass, has said that the bank is ready to support Nigeria in phasing out regressive fuel subsidies while increasing social assistance for the poor and vulnerable. He also stressed the need for a unified exchange rate in Nigeria, which would significantly improve the business-enabling environment in Nigeria, attract foreign […]

The World Bank has committed $8.5 billion to Nigeria to fund critical issues ranging from agriculture to education. Disclosing this on Thursday in Abuja during a summit organised by the Emergency Coordination Center, the World Bank Country Director to Nigeria, Shubham Chaudhuri, noted that the amount was the largest of any country. He noted that […]

The World Bank Group President, David Malpass has said that Nigeria and other developing countries are faced with sudden price increases for energy, fertilizer and food, as well as interest rate increases due to war in Ukraine and Covid-19 related shutdown. This is as the international financial institution has expressed concern over higher poverty rates […]

The federal government has approached the World Bank in an effort to obtain a loan of $30 million for the purpose of building a vaccine plant in the country. President Muhammadu Buhari disclosed that his regime is currently in talks with the World Bank to obtain funds channelled towards building a vaccine plant in Nigeria. […]


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