World Bank: We have N8.5bn investment across Nigeria

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World Bank President Jim Yong Kim
World Bank President Jim Yong Kim

By Racheal Ishaya

To support inclusive economic development and youth empowerment in the country, the World Bank Group says it has an investment portfolio of about 8.5 billion scattered across several states and regions in Nigeria.

The Senior Communications Officer, World Bank Nigeria, Mrs Olufunke Olufon  in a statement on Sunday said the investment was to assist the 36 states and the Federal Capital Territory to reduce poverty and foster prosperity for all Nigerians.

This is coming after concerns were raised by Nigerians over the comment by the World Bank President, Mr Jim Yong Kim that President Buhari asked the bank to shift its intervention focus to the North Eastern states of Nigeria.

She said that the World Bank was also working with federal and states governments, and development partners on speeding delivery of critical interventions to the people of the North East who urgently need assistance.

“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 this region impacted by the crisis, the World Bank Group, the United Nations, and European Union carried out a Recovery and Peace Building Assessment (RPBA).

“Based on the findings of this report, World Bank’s 775 million dollars support to the North East focuses on restoring basic education, health services, agricultural production, and livelihood improvement opportunities,” she said.

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


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