World Bank
Nigeria seeks fresh $500m World Bank loan
The Federal Government is discussing with the World Bank the possibility of securing a $500m loan to support basic education, according to Punch. This is according to the Programme Information Document for the loan project obtained on Friday. The loan is part of the World Bank’s HOPE for Quality Basic Education for All initiative, which […]
Nigeria becomes World Bank’s IDA third-largest debtor, owes $16.5bn
Nigeria is the third-largest debtor to the World Bank’s International Development Association as of June 30, 2024, following a significant increase in its borrowing from the institution. A financial statement dated June 30 2024 but recently made public and obtained by our correspondent on Tuesday disclosed this. The IDA, a key arm of the World […]
World Bank appoints New Country Director for Nigeria
The World Bank has appointed Dr Ndiamé Diop as the new Country Director for Nigeria, a statement by the Bank said. The statement obtained by the News Agency of Nigeria (NAN) said Diop assumed his new position in Abuja on Monday and succeeded Shubham Chaudhuri, who completed his term in the same capacity. In his […]
World Bank grants Oyo N3.5bn to renovate 105 schools
The Oyo State Government has received a N3.5 billion grant from the World Bank to renovate 105 public primary schools across the state. The grant, part of the Better Education Service Delivery for All – Additional Funding project, aims to improve education in the state by increasing equitable access to education and literacy. Speaking during […]
Nigeria secures World Bank’s approval for $2.25 billion loan to boost reforms
The World Bank has announced the approval of two significant financial operations aimed at bolstering Nigeria’s economic stability and supporting its vulnerable populations. According to a statement from the bank on Thursday, the combined package, totalling $2.25 billion, comprises the $1.5 billion Nigeria Reforms for Economic Stabilization to Enable Transformation (RESET) Development Policy Financing Program […]
Federal Government Set to Secure $2.25 Billion World Bank Loan for Economic Reforms
The Federal Government is on the verge of securing fresh loan funding from the World Bank, with an anticipated approval date set for June 13, 2024. The loans, totaling $2.25 billion, will be allocated to two significant development projects aimed at bolstering Nigeria’s economic stability and resource mobilization capabilities. The first project, titled Nigeria Reforms […]
Nigeria secures $2.25billion World Bank loan
Wale Edun, minister of finance and coordinating minister of the economy, says the country has qualified for a World Bank loan of $2.25 billion. Edun spoke during a press conference held at the annual meetings of the International Monetary Fund (IMF) and World Bank Group on April 20. The package, he said, was approved by […]