world bank
Nigeria Still Repaying $10.6 Billion in Loans Taken by Former Presidents – World Bank
The World Bank report categorizes the loans under the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA), both components of the World Bank.
A recent report by the World Bank Group Finances has revealed that … Continue Reading
Nigeria bags $751.88 million from World Bank as Part of $1.5bn Loan
The Federal Government of Nigeria has received $751.88 million from the World Bank as part of a $1.5 billion loan approved earlier this year to support economic reforms and stabilization efforts. The loan is being implemented under the Nigeria Reforms … Continue Reading
FG Seeks $50 Million Funding from World Bank to Boost Power Sector
The Nigerian government has sought the assistance of the World Bank to provide funding worth $50 million to support state governments in the installation of solar plant pilots and infrastructure upgrades. The funding is aimed at driving the country’s power … Continue Reading
World Bank Blacklists 58 Nigerian Entities for Corruption
The World Bank has announced the blacklisting of 58 Nigerian companies and individuals over corrupt practices.
This action, part of the institution’s ongoing efforts, renders the implicated entities ineligible to participate in projects financed by the World Bank Group.… Continue Reading
Nigeria Set to Secure $500 Million World Bank Loan for Rural Access and Agricultural Marketing Project (RAAMP-SU)
The Federal Government of Nigeria is on the brink of securing a significant financial boost, with the World Bank poised to approve a $500 million loan for the Rural Access and Agricultural Marketing Project – Scale Up (RAAMP-SU).
This initiative … Continue Reading
World Bank’s IDA Advocates for Record Funding Amid Escalating Debt and Climate Crises
The International Development Association (IDA), the World Bank’s fund dedicated to the planet’s poorest nations, is pushing for unprecedented funding to tackle the mounting challenges posed by sovereign debt and climate crises. Dirk Reinermann, the head of resource mobilization at … Continue Reading
Nigeria Requests Deadline Extension for $500 Million World Bank Loan Amid Successful COVID-19 Response
Nigeria has formally approached the World Bank for a deadline extension of a significant $500 million loan initially allocated for pandemic preparedness and response. The request, aimed at extending the revised deadline from February 29, 2024, to June 30, 2024, … Continue Reading