Tag: World Bank
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Debt Burdens: Your report on Nigeria, others wrong, misleading, AfDB fires back at World Bank
The African Development Bank (AfDB) has clarified the debts incurred by Africa and explained that the World Bank, with a more substantial balance sheet, had significantly larger operations in Africa than the AfDB. AfDB made this known in a statement by its Communication and External Relations Department on Thursday. According to the bank, the World…
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AfDB, Others Worsening Nigeria’s Debt Burden – World Bank
The World Bank Group and the International Monetary Fund (IMF) have warned Nigeria, South Africa and other low-income nations to be careful with activities of the International Financial Institutions (IFIs) such as the African Development Bank (AfDB), Asian Development Bank, the European Bank for Reconstruction and Development and others because these international lenders are adding…
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World Bank, AfDB, others no longer willing to approve loan requests from Nigeria – FG
…Says only China responsive Multilateral lending institutions including the World Bank and the African Development Bank (AfDB) are no longer willing to grant credit facilities to Nigeria, the Federal Government said on Tuesday. It said that informed its decision to approach China for the bulk of the external loans. Minister of Finance Budget and Planning…
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World Bank predicts Nigeria, others economic outlook for 2020
Nigeria’s economy will grow by 2.1 per cent for three consecutive years covering 2020, 2021 and 2023, the World Bank has predicted. The report which also showed that Kenya would record six per cent growth during the same period; puts global economic growth at 2.5 per cent. The predictions are contained in World Bank’s January…
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Nigeria, others’ external debts rise at slow pace – World Bank
The external debt stock of low and middle-income countries, such as Nigeria and many countries in sub-Saharan Africa, rose 5.2 per cent last year to $7.8 trillion, a slower pace of accumulation than in 2017, a World Bank report released at the weekend showed. According to multi billionaire entrepreneur and lawyer, Dr Ned Nwoko, Nigeria’s…
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World Bank announces appointment of new Country Director for Nigeria
The World Bank has appointed Mr. Shubham Chaudhuri as the new Country Director for Nigeria, succeeding Mr. Rachid Benmessaoud who completed his term recently. A statement issued by the World Bank’s Senior Communications Officer, Nigeria, on Wednesday in Abuja, said Chaudhuri assumed office on Tuesday. It said that Chaudhuri, a U.S. national who grew up…
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Nigeria makes World Bank’s list of top-20 ‘improvers in doing business’
The World Bank Doing Business (DB) team has announced Nigeria as one of the top-20 improvers in doing business out of 190 countries. Dr Jumoke Oduwole, Special Adviser to the President, Ease of Doing Business, disclosed this a statement on Friday in Abuja. She said that the announcement came ahead of the Oct. 24 release…
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Nigeria approaches World Bank for $2.5bn loan
Chairman of the Nigeria Governors’ Forum and Governor of Ekiti State, Dr Kayode Fayemi, has assured the Federal Government that the governors were prepared to pay back what their various states were owing it, if and when accounts were reconciled. Fayemi announced this while reading the communiqué of the forum meeting held on Wednesday night…
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World Bank earmarks $350m for water supply, sanitation in Nigeria
The World Bank has said it earmarked $350 million to increase access to water, sanitation and hygiene services in rural communities and towns across Nigeria. The bank said this is aside the $250 million it was spending on the Third Urban Water Sector Reform Project aimed at increasing access to pipe-borne water supply schemes in…
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World Bank to invest $350m in Nigeria – Minister
Federal Government says World Bank will invest 350 million dollars to support the Partnership of Expanded Water, Sanitation and Hygiene (PEWASH) programme in Nigeria. Mr Sulieman Adamu, the Minister of Water Resources said this at the National Stakeholders’ Consultation workshop on Nigeria Rural WASH Project on Thursday in Abuja. “The World Bank has graciously considered…