To boost minig activities in the nation, the World Bank has developed new partnership deals with same states. The states are those with high mining potential. The bank said, would augment its vibrant partnerships with the federal government. “In Nigeria, we have managed to develop a real ‘partnership’ with the Federal Government and we are […]
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Nigeria has demanded the reform of the Bretton Wood Institutions to make them responsive to the needs of developing countries and also reflect the realities of the 21st century. The Minister of Foreign Affairs, Geoffrey Onyeama, stated this at the 41st Ministerial Meeting of the Group of 77 plus China (G77+China) on the sidelines of […]
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The world economy will pick up speed this year and next, helped by steadier commodity prices and a pickup in global trade, the World Bank said Sunday. The anti-poverty agency predicts 2.7 percent growth this year and 2.9 percent in 2018, improving on 2016’s 2.4 percent expansion. The bank sees the U.S. economy growing 2.1 […]
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The World Bank says it has earmarked 200 million dollars or N7.2 billion for Fadama III Additional Financing of projects in Nigeria. The World Bank Consultant on the project, Dr Idris Badiru, made the disclosure on Thursday in Calabar at the opening of the Fadama III Additional Financing Mid-Term Review Mission to Cross River. “Cross […]
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The World Bank will lend Zambia $600 million under its International Development Assistance (IDA) programme over the next three years, the southern African nation’s presidency said on Friday. Presidential spokesman Amos Chanda told journalists after World Bank vice-president for Africa Makhtar Diop paid a courtesy call on President Edgar Lungu that $150 million would come […]
Read More The World Bank Group on Thursday unveiled plans to assist the Federal Government to strengthen the audit process in the public sector. The Director, Governance Global Practice, World Bank Group, Mr. Edward Olowo-Okere, stated this when he led a delegation of the bank to meet with the Auditor-General for the Federation, Mr. Anthony Ayine. Olowo-Okere […]
Read More A new World Bank study on how Africa’s electricity providers can be profitable and still make electricity affordable at African Utility is expected to be unveiled in Cape Town, South Africa from May 16-18, 2017. The study which dwell mainly on the financial health of electricity utilities in Sub-Sahara Africa, showed that, “Rather than tariff […]
Read More The nation contraction in several countries of the world took a toll on global remittances as the World Bank, Thursday, reported that fund transfers to developing countries fell for a second consecutive year in 2016, a trend not seen in three decades. According to the latest edition of the Migration and Development Brief, released at the […]
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The Minister of Solid Mineral Development, Dr . Kayode Fayemi, on Thursday informed President Muhammadu Buhari of the $150m loan approved by the World Bank for the country’ s mining sector. Fayemi also used the opportunity of the meeting to update the President of his ministry’s efforts at curtailing the activities of illegal miners. Speaking […]
Read More World Bank has shell out a total of $13.63bn in loans and grants to Nigeria as of March 31; a summary of the country’s debt portfolio provided by the bank has shown. The disbursement is out of a total of $21.44bn that had been approved by the bank’s Board of Directors. The total approval is […]
Read More Nigeria is conversation with the World Bank and African Development Bank for $3bn loans before it determines how much it will raise from Eurobonds to help fund this year’s budget. “From the World Bank, we are hoping to get $2bn,” the Minister of State for Budget and National Planning, Zainab Ahmed, said in an interview on […]
Read More The World Bank Group says Nigeria will soon recover from economic recession. Mrs Eme Essien-Lore, Country Manager in Nigeria, International Finance Corporation, a member of the group, made the observation in an interview with journalsits in Lagos on Thursday. “In our perspective and with the numbers that we have seen coming from the World Bank […]
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