• Home
  • News
    • National News
    • State News
  • Business
  • Features
    • Insight
    • Opinion
  • FAAC
  • Financial
    • Facts & Figures
    • Monetary
    • Tax Matters
  • Sidelines
  • Profile
  • Special Focus
Sign in
Welcome!Log into your account
Forgot your password?
Password recovery
Recover your password
Search
Thursday, June 8, 2023
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
Economic Confidential
  • Home
  • News
    • AllNational NewsState News

      Imam Shuaib Agaka’s Maiden Islamic Quiz Competition Ends, Winners Get Prizes

      President Bola Ahmed Tinubu and wife, Oluremu Tinubu

      48 Hours After Assuming Office, Tinubu Yet to Make Official Appointments

      Founder of FCMB, Late Chief Olasubomi Balogun

      FCMB Founder, Subomi Balogun, is Dead

      VP Elect, Kashim Shettima Inspecting a School in 2017

      VP-Elect Shettima Inspecting School Project, Not Meeting with Bandits in Video,…

  • Business
    • DG SEC, Dr. Lamido Yuguda

      Commodities Export Will Grow Nigeria’s Economy – SEC

      Central Bank of Nigeria, CBN

      CBN Takes E-Naira To Kano Varsity For Payment Of Tuition, Others

      Petrol, Fuel, Oil Marketers

      Subsidy Removal Has Doubled Depot Petrol Price – Marketers

      Nigeria Air

      Reps Question Nigeria Air Launch, Declare it a Fraud

      Aviation Fuel

      Jet Fuel, Cooking Gas Prices Crash in Abuja, Lagos

  • Features
    • AllInsightOpinion
      NAHCON Group Photo

      Hajj 2023: NAHCON’s Strategic Media Engagement for Responsible Reporting, by Abdulrahman…

      A Woman in Niqaab

      Why Niqab Shouldn’t be an Issue at BUK By Abdulhamid Sakina…

      Imam Shuaib Agaka’s Maiden Islamic Quiz Competition Ends, Winners Get Prizes

      Omojo Wada

      Rising Unemployment and Inflation: The Fallout of Nigeria’s Subsidy Removal, by…

  • FAAC
    • FAAC

      Akwa Ibom, Rivers, Delta Lead As States Share N9.3trn In Three…

      FAAC

      FAAC: FG, States, LGAs Share N722.677 for February

      FAAC

      Kano, Lagos, Get Massive Share As LGs Share N2trn

      FAAC

      FG, States, LGCs Share N990.189bn In Dec 2022

      FAAC

      FAAC Shares 902.053 billion for November

  • Financial
    • AllFacts & FiguresMonetaryTax Matters
      National Bureau of Statistics, NBS

      Nigeria Records N931.1bn Trade Surplus In Q1, 2023

      Gas Flaring

      In Four Months, Nigeria Loses N150bn To Gas Flaring

      The World Bank

      Nigeria’s Economic Growth Too Slow To Reduce Poverty – World Bank

      TAX

      AU: Nigeria, Others Target $220b Revenue from Taxes

  • Sidelines
    • Saliu Mustapha

      Visit Kwara: Saliu Mustapha Pens Foreward For New Book Spotlighting Kwara…

      Apple Data Breach: Marketing Strategy or Security Issue

      Dangote-BUA Sugar Scarcity Feud

      Google: Expanding 2-Step Verification Enrollment

      SAEMA Awards 2021: Submit Nominees for Security and Emergency Management Awards

  • Profile
    • PHOTOS: PRNigeria Ladies Bag Double 2023 SABRE African PR Awards in…

      Yusuf Alli @60: Unveiling an Investigative Journalist Par Excellence

      Pantami’s grand exposés on Cybersecurity and the Datafication of Society

      The Inimitable Kongi at 88

      The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo

      Adeniyi Adebayo: Unsung, Silent Strides in Economic Diversification

  • Special Focus
    • imported Foreign Rice

      REVEALED: How Illicit Rice Importation is Threatening FG’s Agricultural Sector Interventions

      An abandoned mining site in the Barkin Ladi area of Plateau state

      Abandoned mines: A Danger to Communities Across Nigeria

      Maraba Takushara Community

      SPECIAL REPORT: Maraba Takushara, an FCT Community Under Siege… So Close…

      Yahaya Bello’s Health Initiatives: Building Nigeria of his Dreams in Kogi

      Model Science Secondary School: Yahaya Bello’s Gift to Future Generations

Home Financial Monetary COVID-19: World Bank Okays $11.5bn For Nigeria, Others
  • Financial
  • Monetary

COVID-19: World Bank Okays $11.5bn For Nigeria, Others

By
Economic Confidential
-
October 4, 2021
David Malpass, World Bank President
David Malpass, World Bank President
FIRS

COVID-19: World Bank Okays $11.5bn For Nigeria, Others

 

 

 

 

 

The World Bank has said it approved $11.5bn in lending to Western and Central African countries for 98 operations.

The World Bank said this in its ‘Annual Report 2021: From crisis to green, resilient, and inclusive recovery’.

The bank said, “In fiscal 2021, the bank approved $11.5bn in lending to Western and Central Africa for 98 operations, including $500m in IBRD commitments and $11.0bn in IDA commitments. Revenue from Reimbursable Advisory Services agreements with one country was $700,000.

“To help countries in the region tackle the COVID-19 crisis, we are investing in health and expanding safety nets for their most vulnerable people. We are also supporting recovery by helping strengthen the social contract between citizens and governments, bolster job creation and economic transformation, improve human capital, empower women, and boost climate resilience.”

The bank said in its fiscal 2021, it committed $1.5bn through 12 development policy operations to support countries’ pandemic responses and recovery efforts.

The W’Bank said it was providing governments with immediate fiscal relief while continuing to promote transparency and accountability and helping strengthen public procurement and revenue management.

“In Nigeria, we are helping the government implement fiscal measures to promote transparency and accountability, strengthen links between states and the federal government, and promote citizen engagement.

“In Cameroon, we are strengthening community accountability mechanisms in fragile contexts by improving service delivery for over one million people, many of whom are forcibly displaced.

“In Côte d’Ivoire, the bank and IFC are establishing the policy and regulatory framework for environmentally sustainable investments and providing partial credit guarantee schemes to protect small and medium enterprises.”

According to the global bank, it is providing $1.8bn under IDA to scale up social safety nets across Western and Central Africa in a bid to strengthen social protection measures, recipient registries, cash transfer programmes, and delivery mechanisms to benefit about 40 million people, of which 20 million are Nigerians.

The bank said, “In Togo, we are supporting the delivery of emergency cash transfers to some of the poorest families affected by COVID-19, using satellite images and mobile money; these efforts are also helping modernise the financial sector.

“In Nigeria, the national social protection system is providing digital payments to 20 million people living in extreme poverty, 90 per cent of whom are female.

“In the Gambia, the National Nutrition Agency is supporting more than 78,000 families in the country’s poorest districts through cash transfers, while in Cameroon, an adaptive social protection programme has distributed digital payments to 80,000 vulnerable households.”

The bank added that it would expand irrigation to one million Nigerian farmers by helping them improve technology, institutions, and value chains.

The W’Bank said, “In Edo State, Nigeria, the bank is providing $75m to deliver remote learning through interactive radio lessons, digital self-study activity packets, storybooks for independent reading, mobile interactive quizzes, and lesson plans for parents, reaching 20,000 students in 930 primary schools.”

The global bank added that it is supporting greater access to social transfers, better food security for poor and vulnerable households, and stronger links between farmers and markets to prevent disruptions and job losses in agricultural supply chains in Nigeria.

 

guest posting in digital marketing

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)

Related

PRNigeria.com
EconomicConfidential.com
PRNigeria.com/Hausa
EmergencyDigest.com
PoliticsDigest.ng
TechDigest.ng
HealthDigest.ng
SpokesPersonsdigest.com
TeensDigest.ng
ArewaAgenda.com
Hausa.ArewaAgenda.com
YAShuaib.com
  • TAGS
  • $11.5 Billion
  • Covid-19
  • Nigeria
  • World Bank
Previous articleNigeria Spent N445bn On Debt Servicing In Q2, Debts Hit N35trn
Next articleSenate Summons FAAN MD Over N1.5bn Indebtedness To NiMeT
Economic Confidential

RELATED ARTICLESMORE FROM AUTHOR

Gas Flaring
Monetary

In Four Months, Nigeria Loses N150bn To Gas Flaring

The Nigerian Senate
Monetary

Senate Grills AGF Over N910bn MDAs Loan

President Bola Ahmed Tinubu
Monetary

Tinubu Inherits Over N16trn Uncompleted Projects

Dollar Against Naira
Monetary

Naira Rises Against Dollar to Trade at N770/$1 on Tuesday

Pension
Monetary

PFOs Sustain Business Growth With N1.69trn Investment

Muhammadu Buhari
Monetary

Report Reveals Buhari, Osinbajo, Others To Get N64.72bn Severance Packages

SEMA

Book on Sales: Boko Haram Media War: An Encounter with the Spymaster

boko haram

Click Here: To Order Now!

PRNigeria FEEDS

Loading RSS Feed

EDITOR PICKS

NAHCON Group Photo

Hajj 2023: NAHCON’s Strategic Media Engagement for Responsible Reporting, by Abdulrahman...

Opinion June 7, 2023
Nigeria Air

Group Faults House Committee Chairman On Aviation on Nigeria Air

Editors Pick June 7, 2023
A Woman in Niqaab

Why Niqab Shouldn’t be an Issue at BUK By Abdulhamid Sakina...

Opinion June 7, 2023

POPULAR POSTS

Nigerian Maritime

FG Loses $1bn Annually In Maritime Sector

Monetary May 19, 2020

Ajaokuta Steel Company Gets N4.3bn for Revival

Business January 9, 2017
MTN Office

MTN Nigeria Opens Offer Of N100bn Commercial Paper Issuance

Business May 29, 2020

POPULAR CATEGORY

  • Business10406
  • Monetary2816
  • Financial2471
  • Featured Post2211
  • National News1888
  • News1856
  • Editors Pick1726
  • Opinion1122
  • Features710
ABOUT US
Economic Confidential is the Abuja based Nigerian News Magazine. Economic Confidential Magazine is Factual, Authoritative and Accessible.
Contact us: editor@economicconfidential.com
FOLLOW US
© 2017 Economic Confidential . All Rights Reserved.
X whatsapp