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World Bank: Financial crisis may emerge from COVID-19

World Bank Chief Economist, Carmen Reinhart, has said the coronavirus pandemic is turning into a major economic crisis and warned of the possibility of a financial crisis emerging. Reinhart, who spoke in an interview with Bloomberg Television, said: “This did not start as a financial crisis but it is morphing into a major economic crisis, […]


World Bank approves $12bn for COVID-19 vaccines, treatments

The World Bank, yesterday, approved $12 billion to help developing countries buy COVID-19 vaccines and treatments, the organisation said in a statement. “The World Bank’s Board of Executive Directors today (yesterday) approved an envelope of $12 billion for developing countries to finance the purchase and distribution of COVID-19 vaccines, tests and treatments for their citizens,” […]


World Bank: Sub-Saharan Africa’s GDP may rebound in 2021

Even as the impact of the coronavirus (COVID-19) pandemic would probably linger for years to come, sub-Saharan Africa will likely reverse an economic contraction next year as countries in the region begin to ease movement restrictions, the World Bank has said. The bank, which stated this in its latest outlook for the region released yesterday, […]


$430m project: World Bank sets 148m NIN target for Nigeria

115m female, children must be enrolled by 2024 To be counted as successful in the on-going Digital Identification for Development (ID4D) project being supervised by the World Bank and financed by other global bodies, Nigeria must have issued National Identity Number (NIN) to 148 million of its citizens by June 2024. New Telegraph gathered through […]


Tree planting: Ekiti, World Bank empower 100 farmers

The Ekiti state government and the World Bank through sponsored Nigeria Erosion and Watershed Management Project (NEWMAP) Initiative have promised to empower 100 farmers for planting of 5,000 hectares of trees in the state. The government said NEWMAP project would employ another 450 farmers for tree planting policy for the regeneration of the highly depleted […]

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World Bank mulls trimming poor countries’ debt

The World Bank has said that it is looking at ways to reduce the amount of debt owed by poor nations – rather than simply delaying payments — to attract more investors in the wake of the global coronavirus (Covid-19) pandemic and recession. The bank’s President, Mr. David Malpass, who disclosed this yesterday in a […]


FG, World Bank’s annual fiscal rating for Kwara begins

A five-day technical session to ascertain Kwara State’s compliance with the FG/ World Bank-inspired States Fiscal Transparency, Accountability and Sustainability (SFTAS) has commenced in Ilorin, the state capital, with local officials interfacing with independent verification agents (IVAs) from the office of the Auditor- General of the Federation. According to the state Commissioner for Finance and […]

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World Bank approves $114.28m for Nigeria’s COVID-19 response

The World Bank has approved $114.28 million to help Nigeria tackle its coronavirus (COVID-19) pandemic. The global lender said yesterday that the intervention includes $100 million credit from the International Development Association (IDA) and $14.28 million grant from the Pandemic Emergency Financing Facility. World Bank’s Country Director for Nigeria, Mr. Shubham Chaudhuri, said in statement, […]

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W’Bank approves $500m for girls’ education in 7 states

…targets 6.7m students in Kano, Kebbi, Kaduna, Katsina, Borno, Plateau, Ekiti The World Bank has approved a $500 million credit for the Adolescent Girls Initiative for Learning and Empowerment (AGILE) towards improving secondary education opportunities among girls in seven states in the country. The credit was approved from its International Development Association (IDA) which provides […]


World Bank’s grant to Osun: Fadahunsi lied

The claim by Senator Francis Fadahunsi that the Osun State received a certain N9 billion World Bank fund with nothing to show for it, is not only outlandish, but bogus. At best, the lawmaker representing Osun East, simply lied. The first reaction was to ignore him. But coming from a lawmaker who prides himself as […]