World Bank Appoints Two Vice Presidents For Africa   The World Bank has appointed a another Vice President for the Sub-Saharan Africa Region. The region’s portfolio was formally managed by one Vice president, a position occupied by Mr. Hafez Ghanem, an Egyptian and French national. With the new...

Nigeria Faces Worst Recession In 40 Years - World Bank     The collapse in oil prices resulting from COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s, the World Bank has said. The bank stated this in...

World Bank Approves $750m For Nigeria’s Power Sector     The World Bank has approved a $750 million International Development Association credit for Nigeria’s Power Sector Recovery Operation. This was contained in a statement issued by the bank on Wednesday. The statement quoted World Bank Country Director for Nigeria,...

W/Bank: Poorest Countries To Save $12bn In 2020 Debt Relief   The world’s poorest countries could save over $12 billion owed to sovereign and other creditors this year through their participation in a debt-relief program, with Angola alone saving some $3.4 billion, according to estimates published...

With More Transparency, Nigeria Recovers $3bn from Oil Sector - W/Bank     The World Bank and the Extractive Industries Transparency Initiative (EITI), the global standard for the promotion of openness in the oil, gas and mineral resources management, have said Nigeria has so far recovered about...

COVID-19 Fallout Could Last For A Decade - World Bank President     President of the World Bank Group, David Malpass, has described COVID-19 as a ‘devastating blow’ for the global economy, and warned that the fallout from the pandemic could last for a decade. Malpass, an economist,...