World Bank Financing: Nigeria Secures Largest Share Of $65BN Fund

The Federal Government of Nigeria has secured the largest share of the $65bn (N27tn) funding from the World Bank’s International Development Association to African countries.

 

According to a statement signed by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, 70 percent ($65bn) of the entire package which amounted to $93bn (N38tn), will be deployed to various African states with the largest share being awarded to Nigeria.

Furthermore, President Muhammadu Buhari who joined other African leaders in Dakar said that the largest financial package ever mobilized in the history of the IDA will prioritize some key areas such as: Agriculture and Food Security, Human Capital, Climate Change Adaptation, Bridging the Gender Gap, Job Creation, Digital and Technological Innovation, among others.”

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He also called on global partners for concerted efforts to help reduce the aftershocks of the Covid-19 pandemic and stabilize developing economies towards sustainable growth.

 

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