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Don’t Expect a Big Commodity Shakeup Next Year, World Bank Says

Don’t Expect a Big Commodity Shakeup Next Year, World Bank Says

If you’re trading commodities next year: look for small upticks in oil and crops. But overall, raw-material prices may get stuck in a bit of a lull. That’s according to a report issued Thursday by analysts for the Washington-based World Bank. The bank forecasts an index of energy products to climb 4 percent in 2018, […]

Sub-Saharan Africa To Grow At A Slower Rate This Year, World Bank Says

Sub-Saharan Africa To Grow At A Slower Rate This Year, World Bank Says

The economy of sub-Saharan Africa is seen growing more slowly this year than previously forecast, largely due to weak investment and productivity, the World Bank said on Wednesday. In a report, it forecast growth in the region to be 2.4 percent in 2017, down from the 2.6 percent that it projected in April. But growth […]

Akwa Ibom Gets N32bn From World Bank To Tackle Flood In The State

Akwa Ibom Gets N32bn From World Bank To Tackle Flood In The State

The Akwa Ibom Government says the World Bank has earmarked the sum of N32 billion to tackling flood in the state. The state’s Commissioner for Environment and Mineral Resources, Dr Iniobong Essien, who disclosed to newsmen on Sunday in Uyo, said that the project would be executed in partnership with the Nigerian Erosion and Watershed […]

World Bank Boosts Stem Projects In Universities With U.S.$70 Million

World Bank Boosts Stem Projects In Universities With U.S.$70 Million

As part of its contribution to the development of Science, Technology, Engineering and Mathematics (STEM), in the nation’s universities, the World Bank has committed $70m to projects in 10 institutions across the country. Speaking at the opening of a three-day workshop in Lagos for the 22 African Centres of Excellence (ACE) member- universities in Africa, […]

Buhari Seeks National Assembly’s Approval For $6.4 Billion China, World Bank Loans

Buhari Seeks National Assembly’s Approval For $6.4 Billion China, World Bank Loans

President Muhammadu Buhari on Wednesday, again sought the approval of the National Assembly for the federal government to secure about $6.4 billion dollar loans from the World Bank and China to fund infrastructural objectives across the country and combat polio outbreak in the North-East. In a letter separately read by Senate President Bukola Saraki and […]

World Bank To Fund Africa’s Top 20 Tech Startups

World Bank To Fund Africa’s Top 20 Tech Startups

World Bank has launched XL Africa, a five-month business acceleration program designed to support the 20 most promising digital start-ups from Sub-Saharan Africa. Start-ups will receive mentoring from global and local experts, learn through a tailor-made curriculum, increase their regional visibility, and get access to potential corporate partners and investors. With support from prominent African […]

Nigeria’s Efforts To Secure International Loans Hit Deadlock

Nigeria’s Efforts To Secure International Loans Hit Deadlock

Nigeria’s efforts to secure funds from international lenders to help haul it out of recession have stalled because it has not submitted the required economic reform plans, according to one of the banks and sources close to the matter. The government has been in loan talks with the World Bank for a year. It had […]

Nigeria Gets U.S.$125 Million World Bank Funds to Tackle Polio

Nigeria Gets U.S.$125 Million World Bank Funds to Tackle Polio

Minister of Health, Prof. Isaac Adewole, said Federal Government had obtained a 125-million-dollar loan from the World Bank to tackle fresh cases of polio and other health challenges in the country. The minister made this known while briefing the Senate Committee on Primary Health and Communicable Diseases on Thursday in Abuja. Adowole said that with […]

Escalation Of Ebola Crisis Could Have Been Avoided, Says World Bank President

Escalation Of Ebola Crisis Could Have Been Avoided, Says World Bank President

The catastrophic Ebola outbreak in west Africa could have been snuffed out as early as the summer of 2014 had sufficient money been available, according to Jim Yong Kim, the World Bank president. Instead, the number of cases increased tenfold in three months. Although the bank made emergency funds available in August 2014, most of […]

World Bank Gives Guinea $15m To Support Agriculture Sector

World Bank Gives Guinea $15m To Support Agriculture Sector

The World Bank will release 15 million dollars to support Guinea’s agriculture sector which was seriously affected by the Ebola epidemic, an official source said on Tuesday. The National Service for Agricultural Statistics said that the support was part of the national agricultural investment plan that focused on all aspects of agriculture that include farming […]

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