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Tuesday, 17 October 2017

We've about $8.5bn Investment portfolio Scartered across Nigeria - World Bank

World Bank Group says it has about $8.5billion investment portfolio scartered across states and regions in Nigeria aimed at supporting inclusive economic development and youth empowerment.

Mrs Olufunke Olufon, Senior Communications Officer, World Bank Nigeria, in a statement said that the investments were targeted at assist the 36 states of the federation and the Federal Capital Territory to reduce poverty and foster prosperity for all Nigerians.

She said that that the explanation became necessary following concerns raised by Nigerians as it pertains to the comment by World Bank President, Mr Jim Yong Kim that President Buhari directed the bank to shift its intervention focus to the North. She said that the bank was also working with federal and state governments, and development partners on speedy delivery of critical interventions to people of the North East who urgently needed assistance.

She further said that “in 2015, the Government of Nigeria requested World Bank support to respond to the humanitarian and development crisis in the North East of Nigeria.  “To assess the needs of the nearly 15 million people in the region impacted by the crisis, the World Bank Group, the UN and European Union carried out a Recovery and Peace Building Assessment (RPBA).  

“And based on the findings of the assessment, World Bank’s 775 million dollars support to the North East focuses on restoring basic education, health services, agricultural production, and livelihood improvement opportunities.”  

Mrs Olufon noted that the World Bank Group was increasing its resources to address fragility, conflict and violence at the subnational and national levels and help to stabilise places that were affected by high poverty and influx of people

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