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Tag: World Bank

World Bank approves $300m support package for Ghana's economic recovery
Business

World Bank suspends $8.6bn loan to Nigeria – Report

Nigeria has a $8.25 billion undisbursed World Bank debt as of July 2023. According to The Punch, this was based on information from the World Bank’s website’s Summary Statement of Loans, Credit, and Grants. The undisbursed loans included $1.12 billion from the International Bank for Reconstruction and Development and $7.45 billion from the International Development […]

Niger gov Bagi approves N900m for W'Bank's Agro-climate project
News

Niger gov Bagi approves N900m for W’Bank’s Agro-climate project

The payment of N900 million as a counterpart fund for the World Bank’s Agro-Climatic Resilience in Semi-Arid Landscapes project has been ordered by Niger State Governor, Mohammed Umar Bago. According to Nairametrics, he delivered this command at the start of the distribution of agricultural inputs and seedlings organized by Fadama and ACReSAL in Minna, which will benefit […]

World Bank approves $300m support package for Ghana's economic recovery
Business

World Bank withdraws support from Uganda over LGBTQ law

Alex Omenye The World Bank has disclosed that it will no longer aid Uganda with loans over the signing of a law that proscribes same-sex sexual relationships. The Ugandan government in May passed the anti-LGBTQ law which criminalizes being gay in Uganda. The law prescribes life imprisonment and a death sentence as penalties for anyone […]

News

W’Bank, UN support renewable energy investments in Nigeria

The Chief Executive Officer and Special Representative of the United Nations Secretary-General for Sustainable Energy for All, Damilola Ogunbiyi, and the recently appointed President of the World Bank, Ajay Banga, have expressed their support for private sector investments in renewable energy.   According to The PUNCH, they disclosed this in a statement on Friday during […]

Life Style

World Bank considers home delivery of palliatives to PWDs

The World Bank granted an $800 million loan as a  palliative for the fuel subsidy which People With Disabilities may have the option of having cash sent to them at home during implementation. This was stated in the document Payment delivery modalities for NASSP-SU from the World Bank website. The paper states that individuals with […]

World Bank bans Nigerian companies, CEO over fraudulent practices
Business

Nigeria to get funding for ID4D project – World Bank

The World Bank has said that Nigeria will now receive funds from the World Bank for the implementation of its Identity for Development initiative because the country has enacted a data protection law. The signing of Nigeria’s data protection law into law satisfied the requirement for the release of funds from the International Development Association, European […]

World Bank approves $300m support package for Ghana's economic recovery
Agribusiness

FG, World Bank inspect Enugu’s N350 million agro-processing projects

The World Bank and as well as a delegation from the Federal Ministry of Agriculture and Finance on Saturday toured several multimillion Naira agricultural produce processing facilities that have been established in Enugu State. The initiatives under the Agro-Processing, Productivity Enhancement and Livelihoods Improvement Support initiatives are located in 15 centres across the state’s three senatorial […]

Stop forex restriction on items, impose tariffs, W’Bank tells FG
News

Stop forex restriction on items, impose tariffs, W’Bank tells FG

  The World Bank has advised the Central Bank of Nigeria to terminate its foreign exchange restrictions on 41 products. According to the report, titled,”Nigeria Development Update (June 2023): Seizing the Opportunity,” the body stated that this would complement efforts to reduce inflation through a sequenced and coordinated blend of monetary, fiscal, and trade policies. […]

NNPCL fuel subsidy gains not fully remitted - World Bank
News

FG to repay $800m palliative loan, says World bank

The World Bank which has been Nigeria’s development partner for many years has stated that the $800 million palliative given to Nigeria is a loan that Nigeria will have to pay back. This was said by Mr. Shubham Chaudhuri, the Nigerian country director for the World Bank during an interview with Channels TV. He explained […]

NNPCL, marketers fuel vessels to arrive next week - IPMAN
News

Fuel subsidy stopped development of e-vehicles in Nigeria – W’Bank

      The World Bank has stated that the previous administration’s decision to subsidise petrol prices has impeded the progress of e-mobility and the adoption of alternative vehicles such as electric minibuses, two-wheelers, and three-wheelers. In a document titled “E-Trans-Electric Mobility and Transition in Nigeria: Strategy and Implementation,” the bank reported that the funding […]

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