- World Bank’s MD of Operations has arrived in Abuja for a two-day visit to discuss ways to boost economy, energy and job creation.
- The World Bank helps to analyse complex situations, suggest effective policies, strengthen institutions, and implement projects.
The World Bank has committed over $15 billion to support 30 development programmes across Nigeria. In a statement, the World Bank said the programmes are at the federal and state levels to tackle various issues to boost the economy, energy access and improve lives. As a result, the World Bank is throwing its weight behind Nigeria’s development with a significant financial boost and expert advice.
The statement noted that the World Bank also offers expert advice and support on various fronts beyond financial commitments. They help analyse complex situations, suggest effective policies, strengthen institutions, and even help implement projects. The World Bank’s International Finance Corporation (IFC) also invests heavily in Nigeria, with $2 billion dedicated to supporting businesses. They focus on helping small and medium-sized companies access loans, promoting sustainable practices, and creating jobs in agriculture and manufacturing.
According to the statement, “The World Bank provides large-scale concessional financing for the development programmes of both the federal and state governments. As of January 2024, 30 of such programmes are under implementation, financed by over US$15 billion in commitments. The World Bank also provides support through analytics, upstream policy advisory, institutional strengthening, and implementation support initiatives.”
The Managing Director of Operations at the World Bank, Anna Bjerde, has arrived in Abuja for a two-day visit to discuss critical areas like the economy, energy, and creating jobs. During her visit, Bjerde will discuss crucial topics with Nigerian officials, including how to manage the economy, expand access to electricity, build better digital infrastructure, and equip people with the skills they need for future jobs.