Nigeria Gets Lion Share Of N27tn World Bank Fund
Nigeria, on Thursday, got the largest share of the $65 billion (N27 trillion) funding from the World Bank’s International Development Association to African countries.
This was as the international organization released the 20th replenishment package, IDA-20, in Dakar, the Senegalese capital, to assist low-income countries respond to the COVID-19 crisis and build more resilient economies.
According to a statement signed by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, 70 percent ($65 billion) of the entire package which was about $93 billion (N38 trillion), will be channeled to various African States with the largest share being allocated to Nigeria.
The statement was titled ‘At Dakar summit, Nigeria gets a big slice of IDA financial package’.
President Muhammadu Buhari who was with other African leaders in Dakar, said the “largest financial package ever mobilised in the history of the IDA” will prioritise some key areas such as: Agriculture and Food Security, Human Capital, Climate Change Adaptation, Bridging the Gender Gap, Job Creation, Digital and Technological Innovation, among others.”
He also urged global partners for concerted efforts to help mitigate the aftershocks of the COVID-19 pandemic and stabilise developing economies toward sustainable growth.
