Business

Nigeria receives only 16% of World Bank loans approved by Tinubu

today08/26/2024 4

Background
share close

Nigeria has received only about 16% of the total loan approved by the World Bank under President Bola Tinubu’s administration.
An analysis of disbursement data from the World Bank’s website reveals that the loans, aimed at economic stabilization, infrastructure development, and social welfare, total $4.95 billion, however, as of July 31, 2024, only $774.99 million has been disbursed.
According to financial reports, The World Bank has approved a series of loans strategically targeting critical sectors, including economic reforms, resource mobilization, adolescent girls’ education, and renewable energy expansion.
Despite these approvals, a significant gap exists between the approved funds and actual disbursements, highlighting challenges in project execution and fund allocation, as Of the total loans, $4.16 billion remains undistributed.

Written by: bossgmsi

Rate it

Previous post

World

Israel bombs school in central Gaza

In central Gaza, Israeli forces have bombed another school sheltering displaced Palestinians, following orders issued just a day earlier for people to evacuate areas near the Al-Aqsa Martyrs Hospital, the last functioning medical facility in the region. United Nations Secretary-General Antonio Guterres is calling for an immediate de-escalation after intense exchanges of fire between Israel and Hezbollah across Lebanon’s southern border. Meanwhile, Hamas has rejected new Israeli conditions in ongoing […]

today08/26/2024 5

Post comments (0)

Leave a reply

Your email address will not be published. Required fields are marked *

0%
Our customer support team is here to answer your questions.
error: Alert: Content is protected !!