Friday, August 3, 2018

World Bank Plans to Raise Funding for Nigeria by $4.5 Billion

The World Bank plans to increase its funding to Nigeria by $4.5 billion over the next three years to support projects in the power and health industries and in governance, the lender’s vice president for Africa said.

“This is indicative -- in the next 18 months or so, we expect to put in place projects for around $2.5 billion,” Hafez Ghanem said in an interview Thursday in Nigeria’s capital, Abuja. “We are thinking about financing more investments in power and the area of social protection.” The Washington-based institution currently has 30 projects estimated at $10 billion in Nigeria. Read More