World Bank Approves $2.185Bn to Tackle Extreme Poverty, Corruption in Nigeria

 In Investor News

The World Bank has approved $2.185 Billion to support six projects that it says would support the country’s development.

According to a statement released on Tuesday, 18th of February 2020, the Bank said the projects will include improving immunization, enabling a stronger business environment for the private sector, expanding the digital economy to promote job creation, and increasing public and private sector capacity on governance and social and environmental safeguards.

“Nigeria is central to the World Bank Group’s mission of tackling extreme poverty. The World Bank is carefully targeting its support on high impact projects as the country works to tackle corruption and lift 100 million of its people out of poverty,” David Malpass, the Bank’s President, said.

Shubham Chaudhuri, World Bank country director for Nigeria, said the projects will deliver better services to Nigerians in the area of health, infrastructure, among others. “These projects focus squarely on delivering better services for Nigerians: ensuring that children are immunized and sleep under mosquito nets, building better roads especially in rural areas, and providing Nigeria’s poorest citizens with a unique identification that will make social safety nets and services more effective,” he said.

The projects listed are:

  1. Immunization Plus & Malaria Progress by Accelerating Coverage and Transforming Services
  2. Nigeria Rural Access and Agricultural Marketing Project
  3. Nigeria Digital Identification for Development Project
  4. Ogun State Economic Transformation Project
  5. Innovation Development and Effectiveness in the Acquisition of Skills Project
  6. Sustainable Procurement, Environmental and Social Standards Enhancement Project
  7. The projects will be financed under concessional terms with the International Development Association (IDA).

The Nigeria rural access and agricultural marketing project is targeted at upgrading rural roads and improve connectivity and access to local markets and agribusiness services in 13 states. According to the Bank, the Ogun state economic transformation project “will catalyze private investment in Ogun state by improving the business environment, strengthening the linkages between agricultural producers, suppliers and service providers, and providing training and apprenticeships for women and farmers”.

https://www.thecable.ng/world-bank-approves-2-185bn-to-tackle-extreme-poverty-corruption-in-nigeria

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