{"id":18768,"date":"2017-10-31T16:30:25","date_gmt":"2017-10-31T15:30:25","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=18768"},"modified":"2017-10-31T16:30:25","modified_gmt":"2017-10-31T15:30:25","slug":"african-development-bank-supports-nigerian-governments-economic-recovery-efforts","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/african-development-bank-supports-nigerian-governments-economic-recovery-efforts\/","title":{"rendered":"African Development Bank Supports Nigerian Government\u2019s Economic Recovery Efforts"},"content":{"rendered":"<p>The African Development Bank (<a href=\"http:\/\/www.AfDB.org\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?hl=en&amp;q=http:\/\/www.AfDB.org&amp;source=gmail&amp;ust=1509546882223000&amp;usg=AFQjCNGkFRL5DKIUQJpGFL_1LR9xzziq1Q\">www.AfDB.org<\/a>) wishes to categorically refute the statement that it has \u201ccalled off loans to Nigeria\u201d, as reported in Reuters and credited to AfDB Vice-President for Power, Energy, Climate and Green Growth Amadou Hott.<\/p>\n<p>The African Development Bank is highly encouraged by the economic recovery of Nigeria from recession and salutes the Government&#8217;s efforts towards diversification of the economy. The Bank also strongly supports the Economic and Growth Recovery Plan of the Government and efforts to stem corruption and strengthen fiscal consolidation and efficiency.<\/p>\n<p>In November 2016, the Board of the African Development Bank approved a $600-million loan to support Nigeria&#8217;s efforts to cope with macroeconomic and fiscal shocks that arose from the massive decline in price of crude oil. An additional $400 million in support could be considered, if requested and approved by the Board, as part of a larger coordinated effort with other development partners, including the World Bank and the International Monetary Fund.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>The African Development Bank is in consultations with the Government on how best to continue its support for its laudable Economic and Growth Recovery Plan through investment projects that will help address existing structural challenges, including infrastructure, power, agriculture and support to boost private sector and job creation.<\/p>\n<p>The Bank assures the Nigerian Government of its full support for its continued reforms to diversify the economy and boost economic growth and development.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The African Development Bank (www.AfDB.org) wishes to categorically refute the statement that it has \u201ccalled off loans to Nigeria\u201d, as reported in Reuters and credited to AfDB Vice-President for Power, Energy, Climate and Green Growth Amadou Hott. The African Development Bank is highly encouraged by the economic recovery of Nigeria from recession and salutes the &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":18427,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[2034],"coauthors":[2393],"class_list":["post-18768","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-africa-development-bank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>African Development Bank Supports Nigerian Government\u2019s Economic Recovery Efforts - 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