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World Bank, International Monetary Fund to Fast Track Formation of African Central Bank
Nigerian Finance Minister, Mansur Muhtar, has said a team from the World Bank and the International Monetary Fund (IMF) would meet in April next year to fast track the actualization of the proposed African Central Bank. Muhtar told journalists that, “Nigeria...
Nigeria’s Federal Executive Council Approves $500m Loan From the International Development Association
Nigeria’s Minister of Information and Communications, Professor Dora Akunyili, said on Wednesday that the Federal Executive Council (FEC) has approved a loan of $500 million from the International Development Association (IDA) to finance the 2009 Supplementary...
World Bank Says Africa Needs One Trillion Dollars for Infrastructure Development
The world Bank has said that Africa had the weakest infrastructure in the world and would need more than one trillion dollars in the next decade to resuscitate its poor state of infrastructure. A world bank report, entitled, “Africa’s Infrastructure...
African Development Bank Loans South Africa €1.8 Billion to Tackle Energy Crisis
The African Development Bank (AfDB) has approved a €1.86 billion loan for South Africa’s energy utility company, Eskom Holdings Limited, to finance Medupi power project that will significantly boost the energy capacity of the country and the southern...
World Bank Says Future Funding to Kenya Will be Pegged to Good Governance
The World Bank disclosed on Wednesday that future funding to Kenya will be pegged on compliance to the tenets of good governance and urged the government to get rid of persistent high levels of corruption. Visiting World Bank, Vice President for Africa...
Mauritius to Receive $50m World Bank Loan
The Administrative Council of the World Bank (WB) has given the green light for the disbursement of a loan of $50 million to Mauritius. Official sources at the Ministry of Finance indicate that the financial agreement, which represents the “Fourth...
African Agriculture Development Meeting Opens in Abuja
The 5th Comprehensive Africa Agriculture Development Programme (CAADP) Partnership Platform Meeting opened on Monday in Abuja with more than 50 African countries and donor agencies in attendance. The meeting is being held in preparation of the three-day...
World Bank Disburses $16.2 Million to 27 Nigerian States
The World Bank has disbursed $16.2 million to 27 Nigerian states as part of its $250 million commitment to the third phase of the Fadama Project announced Dr Bola Adubi, the World Bank Senior Agricultural Specialist in charge of the Nigerian agricultural...
