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Tag: World Bank

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
News

FG eyes $500m loan from W’Bank to boost dam safety

The Federal Government has applied for a $500 million loan from the World Bank to strengthen water resource management throughout the federation and increase dam safety. This loan is anticipated to tackle the nation’s problems with water security and enhance agricultural production, by supporting the Sustainable Power and Irrigation for Nigeria Project. According to a […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
News

Nigeria receives $751.88m from recently approved W’Bank loan 

The World Bank has disbursed $751.88 million to Nigeria from a recently approved $1.5 billion loan. The funds was disbursed as part of the Development Policy Financing Program (DPF) initiative, Nigeria Reforms for Economic Stabilization to Enable Transformation (RESET). This loan project is a portion of the larger $2.25 billion in reforms approved by the […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
News

W’Bank allocates $45.5m funding for Nigeria’s NIN drive

The World Bank has allocated $45.5 million to Nigeria’s National Identity Management Commission as part of the Digital Identification for Development (ID4D) project. According to the World Bank’s implementation report, the money was disbursed in multiple tranches between December 2021 and April 2024, with the process still ongoing. In February 2020, the Bretton Woods Institute […]

News

Technical, financial support to Nigeria worth over $15bn – W’Bank

The World Bank has stated that its technical advisory and finance to support economic growth in Nigeria today totals more than $15 billion. This follows the bank’s disclosure that it had invested in sectors such as reliable power and sustainable energy, girls’ education and women’s economic empowerment, climate adaptation and resilience, water and sanitation, and […]

World Bank bans Nigerian companies, CEO over fraudulent practices
News

FG secures $500m world bank loan for power distribution

The federal government has secured a $500 million loan from the World Bank aimed at improving power distribution in Nigeria’s electricity sector. This development comes in the wake of last month’s tariff increase for top consumers across the country. The Bureau of Public Enterprise announced on Thursday that the World Bank had approved the loan […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
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FG receives $500m W’Bank loan for power distribution

The Federal Government has secured a $500m World Bank loan to bolster Nigeria’s electricity distribution sector. This was disclosed by the Bureau of Public Enterprises announced on Thursday, according to The Punch. The power distribution companies in Nigeria have faced significant criticism for being the most vulnerable aspect of the nation’s power value chain, mainly […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
featured

World Bank may approve FG’s $2.25bn loan in June

The Federal Government is in the process of receiving a new loan from the World Bank, with loans amounting to $2.25 billion scheduled for approval on June 13, 2024. The funding will be received via two major development projects, according to The Punch. The first project, which is expected to receive $1.5 billion, is the […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
featured

FG target $750m W’Bank loan, may reintroduce telecom tax

The Federal Government may reintroduce previously suspended telecom tax and other fiscal measures to secure a new $750m loan from the World Bank. This follows the Stakeholder Engagement Plan for Nigeria – Accelerating Resource Mobilisation Reforms programme between Nigeria and the World Bank. this was disclosed in a document posted on the World Bank’s website […]

World Bank approves $1.08bn to improve health, education
News

World Bank pledges health services to 1.5bn people by 2030

The World Bank Group has unveiled an ambitious initiative aimed at ensuring that no fewer than 1.5 billion people worldwide have access to quality and affordable health services by the year 2030. This initiative forms a vital component of a broader global endeavor dedicated to securing a fundamental standard of care across all stages of […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
News

Nigeria, 14 others have low credit ratings – World Bank

Nigeria and 14 other countries have been identified by the World Bank as having weak credit ratings for sovereign bonds as stated in its latest report “The Great Reversal: Prospects, Risks, and Policies in International Development Association (IDA) Countries.” According to the report released on Monday, the list includes Cameroon, the Democratic Republic of Congo, […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
World

World Bank unveils new framework to measure accountability

The World Bank Group has developed a new corporate scoreboard in tracking development results across 22 indicators, to provide a clear picture of the progress across all aspects of the World Bank Group’s mission. This underlines significant efforts in promoting accountability and transparency. This was disclosed in a press release on its website. The same […]

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