World Bank to Spend $5 Billion in the Next Five Years in Nigeria on 27 Sustainable Development Projects
The World Bank says it will be spending $5 billion in the next five years in Nigeria on 27 sustainable development projects, including infrastructure, construction and rehabilitation, energy, water and agriculture.
The Country Director of the World Bank, Ms Marie-Francoise Marie-Nelly, said at a one-day “Job Shadow Workshop”, organized by Junior Achievers Nigeria, a non- governmental organization on Tuesday in Abuja that the bank would be providing money in the range of $1.3 billion to $1.5 billion in a year.
Marie-Nelly explained that 60 percent of the total amount would be spent on sustainable development projects and human capital development, which was the second area of intervention, and it would take about 40 percent of the amount.
She noted that this would significantly impact on primary healthcare and basically help to improve the situation in the sector, especially polio eradication.
“But what is interesting to know is that the government has adopted a significant program called ‘Saving one million lives’,” she said.
She assured that the World Bank would continue to help in strengthening government institutions and private sector development.
“We also have three regional projects in the area of air transport, the Niger River Basin in Niger State and the West Africa Agriculture Productivity Project, aimed at improving productivity in the agricultural sector and using the best techniques,” she said.
Speaking on youth empowerment, she said that the bank had budgeted $300 million for the Youth Employment and Social Support Operation (YESSO) scheme in Nigeria.
“We are preparing the YESSO to support the provision of immediate work opportunities and skills development for unemployed youths and women from poor households,” she added.
Source African Press Agency
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