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World Bank, UN, Gates Foundation Pledge $600Mn To Combat Cancer

Global health donors, including the World Bank Group, Bill & Melinda Gates Foundation and the United Nations Children Education Fund (UNICEF), have pledged nearly $600 million to combat cervical cancer, marking the first-ever global forum solely dedicated to eradicating the disease. The World Bank is committing $400 million to the fund over three years, while […]

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W/Bank Forecasts Nigeria’s Diaspora Remittances To Exceed $20Bn In 2023

The World Bank has projected Diaspora remittances into Nigeria to exceed $20 billion and estimated total remittances into the Sub-Saharan Africa (SSA) region to grow by 1.9% at the end of this year. The Bretton Woods institution, in its latest ‘Migration and Development Brief’, predicted that the global remittance flows would continue to grow in […]

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Nigeria To Extend Clean Energy Access To 17.5Mn People – W/Bank

The World Bank on Thursday announced that it had approved the Nigeria Distributed Access through Renewable Energy Scale-up (DARES) project, which is financed by an International Development Association (IDA) credit of $750 million and will leverage over $1 billion of private capital and significant parallel financing from development partners, including $100 million from the Global […]

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World Bank Urges FG To Move From Reforms To Results

The World Bank has advised the Federal Government that to reap the benefits of the bold reforms and difficult but necessary economic adjustments currently being implemented by it, it is essential for it to sustain and fully implement the reforms and take complementary actions. The development finance institution in its December 2023 edition of the […]

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World Bank To Partner FG On Mining Sector Devt

The Nigerian government is exploring collaborative arrangements with the World Bank to increase financing and technical support for the development of the nation’s mining sector. Speaking during a courtesy visit to the minister, Dele Alake, on Monday, World Bank Country Director for Nigeria, Shubham Chaudhuri, expressed satisfaction with the renewed focus on development of the […]

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REA Launches Mini-Grids’ Monitoring Centre To Boost Electricity

The Rural Electrification Agency (REA) has launched a control room centre located at its headquarters in Abuja to ensure effective monitoring of mini-grids power facilities that are note connected to the national electricity grid. The agency’s initiative aligns with the introduction of new Energy Management System (EMS) policy  to effectively monitor smaller electricity systems called […]

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Tinubu Seeks N/Assembly’s Approval Of $7.864Bn, €100Mn Loans

President Bola Tinubu on Wednesday sought the Senate’s processing of a loan facility of $7,864,508,559 and €100 million earlier requested during the immediate past Muhammadu Buhari-led administration under the 2022 – 2024 external borrowing plan. The President conveyed the request to the Red Chamber of the National Assembly through a letter he addressed to the […]

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MDBs Restate Commitment To Accelerating Global Socioeconomic Devt

Heads of multilateral development banks (MDBs) at the just concluded IMF/World Bank Annual Meetings in Morocco pledged to strengthen their individual and collaborative actions to accelerate inclusive socioeconomic development. Specifically, to achieve a greater impact, the DMBs agreed to explore innovations to scale up financing capacity, boost climate action, strengthen co-financing and catalyse private sector […]

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ILO D-G Seeks Improved Funding For Developing Countries’ Social Needs

The Director-General of the International Labour Organization (ILO), Gilbert F. Houngbo, has called for more assistance to debt-distressed developing countries to enable them to continue funding social protection and decent work programmes. Houngbo, in statements delivered at the World Bank/International Monetary Fund (IMF) meeting holding in Marrakech, Morocco, told the World Bank Development Committee that […]

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World Bank Approves New $700Mn Loan For Nigeria

The World Bank on Friday announced the approval of a fresh $700 million loan for Nigeria to assist the country in the implementation of an ongoing project – the Adolescent Girls Initiative for Learning and Empowerment. The Bretton Woods institution, in a statement published on its website, disclosed that the loan  would help to  scale […]