World Bank Commits To Increasing Financial Assistance To Nigeria In Bid To Boost Economic Growth

World Bank Commits To Increasing Financial Assistance To Nigeria In Bid To Boost Economic Growth....KINDLY READ THE FULL STORY HERE▶

The World Bank has affirmed its commitment to enhance financial assistance to Nigeria in addressing key economic priorities. The Managing Director of Operations, Anna Bjerde, conveyed this message during a press briefing on Thursday following a courtesy visit to President Bola Tinubu at the Presidential Villa in Abuja………CONTINUE READING

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Bjerde emphasized that the World Bank would persist in supporting the reforms initiated by President Tinubu’s administration through its instrumental support mechanisms. She stated, “The World Bank will continue to bolster the reforms of President Tinubu’s administration using our supportive instruments, and we will increase our financial backing to Nigeria in alignment with various initiatives and the overall economic requirements.”

Expressing optimism, the World Bank Chief indicated that the ongoing program with the Nigerian government would witness further growth. She remarked, “While we already have a substantial program in place, this visit has indicated that the programs will expand. I am pleased with the discussions held during our last meeting with the PBAT (President Bola Tinubu).”

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, highlighted that Nigeria hosted a mini summit involving West and Central Africa Finance Ministers, the World Bank, and other significant partners in the multilateral investment guarantee agency.

Edun noted, “The mini summit addressed issues of development and increasing concessional financing for West and Central Africa. We reported to the President that we had robust discussions during the summit.”

He further conveyed that Nigeria advocated for increased resources to enhance electricity infrastructure and broaden access to social safety nets. The focus is on providing comprehensive support to Nigeria in the realms of digitization and technological advancement within the country’s economy.

“Emphasis was placed on augmenting resources to Nigeria and West and Central Africa, improving electricity access, expanding the social safety net, providing greater support for digitization and technological development in our economies, and assisting in finding solutions to development challenges and lifting more people out of poverty,” Edun concluded.

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Source: Bushradiogist