- Nigeria has signed a US $780-million loan agreement with the World Bank yesterday, geared towards financing of three poverty reduction projects in west African country.
The loan, which will largely fund Nigeria's development agenda, will support the empowerment of communities to develop, implement and monitor social infrastructure projects including resources management interventions and social risk management.
Finance Minister Shamsudee Usman was quoted by the News Agency of Nigeria yesterday as saying the loan will afford government to address at least three key areas of food security, poverty reduction as well as rural access through building of roads.
The projects, some of which will be implemented by rural communities themselves, will also address issues of water and sanitation, which Mr Usman said were pivotal in ensuring that communities themselves can monitor and manage resources effectively.
The minister also explained that under the project rural farmers' output will be enhanced also as a way of increasing rural household incomes.
afrol News - It is called "financial inclusion", and it is a key government policy in Rwanda. The goal is that, by 2020, 90 percent of the population is to have and actively use bank accounts. And in only four years, financial inclusion has doubled in Rwanda.
afrol News - The UN's humanitarian agencies now warn about a devastating famine in Sudan and especially in South Sudan, where the situation is said to be "imploding". Relief officials are appealing to donors to urgently fund life-saving activities in the two countries.
afrol News - Fear is spreading all over West Africa after the health ministry in Guinea confirmed the first Ebola outbreak in this part of Africa. According to official numbers, at least 86 are infected and 59 are dead as a result of this very contagious disease.
afrol News - It is already a crime being homosexual in Ethiopia, but parliament is now making sure the anti-gay laws will be applied in practical life. No pardoning of gays will be allowed in future, but activist fear this only is a signal of further repression being prepared.
afrol News / Africa Renewal - Ethiopia's ambitious plan to build a US$ 4.2 billion dam in the Benishangul-Gumuz region, 40 km from its border with Sudan, is expected to provide 6,000 megawatts of electricity, enough for its population plus some excess it can sell to neighbouring countries.