Truth Is Treasure
By Mathew Dadiya, AbujaThe World Bank Group and the International Monetary Fund, Friday, urged official bilateral creditors to provide immediate debt relief to the poorest countries facing COVID-19. This, the World Bank group and other international creditors believed would enable these 56 poor nations to prioritize their spending to curtailing the
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By Mathew Dadiya, Abuja The World Bank and International Finance Corporation’s (IFC) Boards of Directors Thursday, approved an increased $14 billion package of fast-track financing to assist companies and countries in their efforts to prevent, detect and respond to the rapid spread of novel COVID-19 pandemic. The package, according to the Wotld
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By Tony Obiechina, Abuja The Federal Government has obtained a $750 million World Bank credit facility to finance the Fiscal Transparency, Accountability and sustainability programmes of 36 states of the Federation. The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed who disclosed this on Tuesday, said that $700 million of the money would be
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By Mathew Dadiya, Abuja The Nigeria Export Processing Zones Authority (NEPZA) has said that the new partnership with the World Bank and the International Financial Co-operation (IFC)in the area of infrastructural development of Free Trade Zones across the country and staff capacity building will help in attracting more Foreign Direct Investment
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By Mathew Dadiya, Abuja The International Monetary Fund (IMF) and the World Bank, on Tuesday said they will adopt a “virtual format” for their Spring Meetings instead of convening in person in Washington, citing concerns about the fast-spreading coronavirus codenamed COVID19. The Spring Meetings, scheduled this year for April 17-19, usually bring
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Governor Samuel Ortom has urged the Federal Government not to dismiss the World Bank report on the increasing number of destitutes in the country. He gave the advice at the weekend while addressing journalists shortly after a courtesy call on him by the Feed The Future Nigeria Agri-business Investment Activity led
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By Tony Obiechina, Abuja The Debt Management Office has said that Nigeria’s total debt to the World Bank Group has increased by $1.3bn in one year from $8.39 billion to $9.81 billion as at September 2019. The nation’s debt office disclosed this in its latest report said that Nigeria’s debt to
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By Mathew Dadiya, Abuja The World Bank has in its January 2020 Global Economic Prospects, projected that global economic growth to edge up to 2.5% in 2020 as investment and trade gradually recover from last year’s significant weakness but downward risks persist, Growth among advanced economies as a group is anticipated to
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By Mathew Dadiya, Abuja The World Bank may have approved a $3billion loan facility ( about N1trn) for revamping of the nation’s power sector, DAILY ASSET learnt at the weekend . The Bank’s approval followed a request by the Federal government last October, to the international financial institution. In October at the
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Managing Director of Bauchi State Water and Sewerage Corporation (BSWSC) Mr Aliyu Gital, has disclosed that the World Bank is supporting the state government in expanding its urban water project. Gital told newsmen yesterday in Bauchi that expansion would supply potable water to over one million residents in the state. “Over
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