Tag: World Bank
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Poverty reduction: World Bank’s new president to visit sub-Saharan Africa
World Bank’s new President David Malpass will be making his first foreign trip to sub-Saharan Africa to highlight his vision for the bank’s poverty reduction and development agenda, the bank said on Friday A World Bank spokesman said in Washington that Malpass would be traveling this weekend to Madagascar, Ethiopia and Mozambique before flying to…
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Ahmed, Emefiele join other world economic experts at IMF/World Bank meetings
The Minister of Finance, Mrs Zainab Ahmed and the Governor, Central Bank of Nigeria, Mr Godwin Emefiele, will join other economic experts from around the world to discuss issues affecting global economy in Washington DC, US. The discussions are scheduled to hold between April 9 and April 14, under the auspices of the World Bank…
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Nigeria’s economy ‘falling behind’, ‘slipping’ – World Bank
The World Bank has classified Nigeria’s economy in the the bottom tercile whose major characteristics include ‘falling behind’ and ‘slipping’. The bank said the Nigerian economy exhibited this characteristics since 1995 and this continued till 2018. The bank, in its latest report on the regional economy titled, ‘Africa’s Pulse’, released the taxonomy of growth performance…
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World Bank appoints David Malpass as 13th president
The Executive Directors of the World Bank on Friday unanimously selected David Malpass as President of the World Bank Group for a five-year term, beginning on Tuesday, April 9. The World Bank in a press release published on its website, said the appointment followed a transparent nomination process where any national of the Bank’s membership…
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Nigeria-born Executive Director of World Bank, Haruna Mohammed is dead
The World Bank has announced the death of Haruna Mohammed, Executive Director for Nigeria, Angola, and South Africa. Mr Ousmane Diagana, World Bank Group’s Vice President, Human Resources, said in a statement that Mohammed passed away on Friday at Georgetown Hospital in Washington, DC. “Before being appointed Executive Director in October 2018, Mohammed was serving…
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Kim’s resignation: World Bank commences selection process for new President
The World Bank on Thursday said it has commenced a process that will lead to the selection of a new president. The commencement of the process follows the sudden exit last Monday of the incumbent president, Jim Yong Kim, who announced he would be stepping down from his position effective February 1. Kim’s announcement came…
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BREAKING: World Bank President Jim Yong Kim announces resignation, names successor
In a surprise move, World Bank President Jim Yong Kim on Monday announced that he will step down from his position on February 1 much before the end of his term in 2022. Kim, 58, has been in this position for over six years now. The president of the Washington-based World Bank has always been…
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36 states, FCT to access World Bank’s $750m loan, grant soon – FG
The Federal Government has disclosed that 36 state governments and the Federal Capital Territory, FCT, will soon access World Bank’s $750 million loan and grant facility. This was made known by the Minister of Finance, Zainab Shamsuna Ahmed, while addressing the 7th Community of Practice (CoP) made up of State Commissioners of Planning and Budgeting,…
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World Bank projects ‘below 2 per cent GDP growth’ for Nigeria in 2018
The World Bank in its latest report released on Wednesday has projected a slow growth in Nigeria’s economy in 2018. According to the report on Nigeria’s bi-annual Economic Update on Wednesday, the country’s Gross Domestic Product growth is expected to hover slightly below two per cent in 2018, largely driven by non-oil industry and services.…
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Bayelsa obtains $1mn World Bank/EU loan
The Bayelsa State Government on Wednesday commenced the deployment of one million dollars bilateral loan it obtained from the World Bank and European Union (EU). Projects selected for implementation from the loan are scheduled to be completed in two years. Figures from Debt Management Office put Bayelsa’s external debt as at June 20018 at 47.756…