{"id":45426,"date":"2020-12-15T13:56:53","date_gmt":"2020-12-15T12:56:53","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=45426"},"modified":"2020-12-15T13:56:53","modified_gmt":"2020-12-15T12:56:53","slug":"world-bank-approves-1-5bn-loan-for-nigeria","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/world-bank-approves-1-5bn-loan-for-nigeria\/","title":{"rendered":"World Bank Approves $1.5bn Loan For Nigeria"},"content":{"rendered":"

The World Bank has approved Nigeria\u2019s request for a $1.5 billion loan.<\/p>\n

The bank said the facility was prepared jointly with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA).<\/p>\n

\u201cThis country partnership framework will guide our engagement for the next five years in supporting the government of Nigeria\u2019s strategic priorities by taking a phased and adaptive approach,\u201d<\/p>\n

\u201cTo realize its long-term potential, the country has to make tangible progress on key challenges and pursue some bold reforms. Our engagement will focus on supporting Nigeria\u2019s efforts to reduce poverty and promote sustained private sector-led growth.\u201d<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

In a statement on Tuesday, the Bretton Wood institution said the facility is a five-year country partnership framework (CPF) that will last from 2021 to 2024. The loan will focus on four areas of engagement namely Investing in human capital, promoting jobs and economic transformation and diversification, enhancing resilience, and strengthening the foundations of the public sector.<\/p>\n

The bank\u2019s board of directors also approved $1.5 billion for two projects in Nigeria. The projects are Nigeria COVID-19 Action Recovery and Economic Stimulus \u2013 Program for Results (Nigeria CARES) and The State Fiscal Transparency, Accountability, and Sustainability Program for Results (SFTAS) Additional Financing. Both projects will get a $750 million facility through the International Development Association (IDA).<\/p>\n","protected":false},"excerpt":{"rendered":"

The World Bank has approved Nigeria\u2019s request for a $1.5 billion loan.<\/p>\n","protected":false},"author":6,"featured_media":27257,"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":[17],"tags":[7901],"coauthors":[2391],"class_list":["post-45426","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-news","tag-world-bank-loan"],"yoast_head":"\nWorld Bank Approves $1.5bn Loan For Nigeria - National Wire<\/title>\n<meta name=\"description\" content=\"The World Bank has approved Nigeria\u2019s request for a $1.5 billion loan.The World Bank has approved Nigeria\u2019s request for a $1.5 billion loan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/world-bank-approves-1-5bn-loan-for-nigeria\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank Approves $1.5bn Loan For Nigeria - 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