Low, Middle Income Countries To Attract $508bn Remittances
The World Bank has projected that remittances by migrant workers to low and middle income countries (LMICs) will drop to $508 billion in 2020.
In a migration and development report released by the bank, it said the economic...
W/Bank Pledges $72m For States’ Land Administration Records
The World Bank has expressed willingness to give each state of the federation a grant of two million dollars to enable them to update their property records.
This, however, is based on the condition that benefiting states capture...
W/Bank Projects Oil Price Of $44 In 2021
The World Bank has said that oil prices won’t be rising much next year either, but would average $44 per barrel, saying that prices will not recover to pre-pandemic levels at least until 2022.
In its semi-annual Commodity...
World Bank, IMF Plan debt reduction for IDA countries
The World Bank and International Monetary Fund (IMF), have proposed to undertake a joint action plan on debt reduction for the most indebted International Development Association (IDA) countries.
Mr David Malpass, the President, the World Bank Group,...
W/Bank Supports FG On Petrol Subsidy Removal
The World Bank said on Thursday that the removal of petrol subsidy in Nigeria was an important step amid the COVID-19 crisis.
The bank, in its ‘Africa’s Pulse’ report entitled ‘Charting the road to recovery’, said countries in sub-Saharan...
79 million Nigerians Extremely Poor In 2018 – W/Bank
Nigeria has the largest poor population in sub-Saharan Africa, with 79 million extremely poor in 2018, the World Bank said in a new report on Wednesday.
The country accounts for 20 per cent of the total poor...
