In a significant move, the World Bank has announced its decision to halt the consideration of new loans for Uganda in response to the country’s adoption of a highly controversial law targeting LGBTQ+ individuals. The law, which was passed earlier this year by the Ugandan government, criminalizes same-sex conduct and imposes severe penalties. Under the…
The World Bank Group President, David Malpass says global growth is expected to be weak in 2023, slowing to two per cent from 3.1 per cent in 2022.Malpass said this in his Opening address at the ongoing Spring Meetings 2023 Media Call, a copy of which was obtained by the News Agency of Nigeria (NAN)…
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said yesterday that the Federal Government has secured $800m from the International Bank for Reconstruction and Development (World Bank), to provide post-petroleum subsidy palliatives for over 50 million Nigerians, ahead of June 2023.The Minister disclosed this while briefing State House correspondents at the end…
The World Bank stated, that a market-driven approach to mini grid development under its National Electrification Project has accelerated the deployment of more than 100 new solar-powered mini grids in Nigeria. The Bank disclosed this yesterday in a press statement, saying that powering 380 million people in Africa by 2030 would require the construction of…
