Word Bank Approves N799.7Bn for Projects in Nigeria

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The World Bank approved six projects worth about $2.2Bn, equivalents to N799.7Mn for implementation in Nigeria in the 2020 fiscal year.

The management of the bank had met to deliberate on a request from the Federal Government.

A statement issued by the World Bank said the projects would support human capital and economic development in a bid to lift millions of Nigerians out of poverty.

According to the statement, the facilities approved by the bank would finance projects aimed at improving immunization, creation of a stronger business environment for the private sector and expansion of the digital economy for job creation.

The projects also seek to increase public and private sector capacity on governance, and provision of social and environmental safeguards.

The bank’s country director for Nigeria, Shubham Chaudhuri, explained that the projects are aimed at delivering better services for Nigerians.

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