See also:
» 23.02.2010 - Nigeria appeals for power back-up
» 19.02.2010 - N10 billion bailout might be a waste
» 16.02.2010 - Devise local strategies to fight climate change
» 08.02.2010 - Nigeria approves hydro power plant
» 02.02.2010 - UK to return £43 million stolen funds
» 20.01.2010 - Legislators reject motion to probe mass sackings
» 04.08.2009 - Nigeria secures WB budgetary support
» 22.05.2008 - Nigeria owed $1.91 billion oil funds











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Nigeria
Economy - Development | Agriculture - Nutrition | Society

Nigeria signs $780 million loan with World Bank

afrol News, 25 November - 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.


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