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Tag: World Bank
Senate summons finance minister over N206 billion increased humanitarian budget
The Nigerian Senate has summoned the minister of finance, budget and national planning, Zainab Ahmed, over the insertion of N206 billion into the 2023 budget of the Ministry of Humanitarian…
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How the World Bank is standing with a region at climate risk
There is a saying in the Pacific that when it comes to climate change, we are not drowning: we are. This could also sum up the wider East Asia and Pacific…
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CBN Says Recovers N3.7 trln From Intervention Funds
The Central Bank of Nigeria (CBN) has recovered a total of N3.7 billion out of the N9.3trillion disbursed under its intervention schemes in the last four years. The Director of…
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Rate Hikes Will Trigger Recession, World Bank Warns FG
The Washington-based bank warned in a new report titled “Risk of Global Recession in 2023 Rises Amid Simultaneous Rate Hikes” that the present track of interest-rate hikes and other policy…
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World Bank Sees Rising Risk Of Global Recession In 2023
The world may be edging toward a global recession as central banks across the world simultaneously hike interest rates to combat persistent inflation, the World Bank said on Thursday. The…
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World Bank Group Delivers Record $31.7 Billion in Climate Finance in Fiscal Year 2022
The World Bank Group delivered a record $31.7 billion in fiscal year 2022. This is a 19% increase from the $26.6 billion all-time high in financing reached in the previous…
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Nigeria Gets $3bn From World Bank, US To Boost Energy Transition
The World Bank and the US Export-Import Bank (EximBank) have pledged a sum of $3 billion to boost the implementation of Nigeria’s energy transition plan. The international organizations made the…
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Remittances Flow to low- and middle-income countries are projected to grow $589 by billion in 2021
Remittances to low- and middle-income countries are projected to have grown a strong 7.3 percent to reach $589 billion in 2021. This return to growth is more robust than earlier…
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World Bank and African Union Team Up to Support Rapid Vaccination for Up to 400 million People in Africa
The African Finance Ministers and the World Bank Group met today to fast track vaccine acquisition on the continent and avoid a third wave. In a boost to the African…
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Between Nigeria and World Bank
Feyi Fawehinmi A few weeks ago, reports began to appear in local and International outlets suggesting that the US$1.5 billion loan Nigeria had arranged with the World Bank had been…
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