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Tag: World Bank

Agribusiness featured

FG partners World bank on six-year livestock project

The Federal Government in collaboration with the World Bank have unveiled a six-year livestock development initiative.   The initiative, which is tagged: ‘Livestock Productivity and Resilience (L-PRES)’, is with the aim of upscaling production and curbing farmers/ herders’ crises.   The Nation reported that the Chief of Staff to the president, Professor Ibrahim Gambari, during […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
featured

World Bank lowers economic outlook over predicted recession

The World Bank lowered its economic outlook on Tuesday as a result of a “perilous” near-recession experience. In contrast to the 3% growth it forecast in June, the BBC now projects that the global economy will expand by just 1.7% this year. The pandemic’s effects and Russia’s invasion of Ukraine are two things that the […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
Economy

Global economy vulnerable to recession in 2023 – World Bank

The World Bank has warned that “even a moderate hit” could tip the global economy into recession in 2023.   The global financial institution made this known it’s recently published 2022 review, saying that the global economy is in its steepest slowdown since 1970 and that “consumer confidence (is) already suffering a much sharper decline […]

News

Nigeria needs N3.7 yearly to tackle poverty – World Bank

The World Bank has revealed that Nigeria would need to spend N3.7 trillion to end the country’s rising rate of poverty. This was noted by the financial institution in its synthesis report for the Nigeria Country Economic Memorandum: Charting a New Course, which was released earlier this month. The World Bank also pointed out that […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
News

Debt: Zambia gets $100m from World Bank

  The World Bank announced on Wednesday that it would disburse $100 million for Zambia, despite significant delays in debt restructuring procedures as creditors drag their feet. According to The News Agency of Nigeria, Zambia received a 275 million USD grant from the World Bank in October to aid in its recovery from the COVID-19 […]

Economy

Nigeria to lose 123.4% revenue in 2023 – World Bank

The World Bank has projected a 123.4% deficit from the country’s revenue in 2023 as a result of debt servicing.   The international financial institution made this assertion via its Lead Economist for Nigeria, Alex Sienaert during a presentation titled: ‘Nigeria Public Finance Review: Fiscal Adjustment for Better and Sustainable Development Results.’ for the month […]

Agribusiness

Enugu farmers, SMEs benefit from World Bank’s project

Farmers, Small and Medium Enterprises and others have benefitted from the World Bank assisted Agro-Processing, Productivity Enhancement and Livelihood Improvement Support Project in Enugu State.   The Enugu State Deputy Governor, Mrs Cecilia Ezeilo, made this known during a two-day World Bank 9th Implementation Support Mission held in Enugu.   The News Agency of Nigeria […]

ICF
Appointments

IFC appoints new director for Africa

The International Finance Corporation of the World Bank Group on Tuesday appointed Sarvesh Suri as its new Regional Industry Director for Infrastructure and Natural Resources in Africa. In a statement, Suri, who brings more than 20 years of global investment and development expertise to his new role, will drive IFC’s strategy to connect more people […]

World Bank punishes Nigerian firms, individuals for corruption
News

World Bank punishes Nigerian firms, individuals for corruption

Seven Nigerian firms and individuals have been penalized by the World Bank over corruption during its 2022 fiscal year. According to The PUNCH, this information was disclosed in the Sanctions System Annual Report for the bank’s most recent Fiscal Year 2022, which ran from July 1, 2021, to June 30, 2022. The penalty list included […]

Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
News

Why ending global poverty by 2030 unlikely – World Bank

The World Bank has revealed why the global goal to end poverty by the year 2030 is unlikely. According to the News Agency of Nigeria, the world financial body on Thursday stated that the global poverty goal is unlikely to be met by 2030 due to “absent history-defying rates of economic growth over the remainder […]

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