By Racheal Ishaya
The Minister of Finance, Mrs Kemi Adeosun and the Central Bank Governor on Sunday left Nigeria for Washington DC to join other economic experts from around the world in discussing issues affecting global economy.
The discussions is taking place under the auspices of the World Bank Group and the International Monetary Fund (IMF).
The Spring Meetings of the IMF and the World Bank will bring together central bankers, ministers of finance and development, parliamentarians, private sector executives, representatives from civil society organisations and academics.
They will discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness.
Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world’s financial system.
The meeting will take place in Washington, DC, from April 16 to 22, 2018.
Nigeria has benefitted from both the IMF and the World Bonk.
Although Nigeria currently has zero loans with the IMF, it however enjoys technical support from the organisation.
The World Bank Group on the other hand is helping to fight poverty and improve living standards in Nigeria through 33 Core Knowledge Products Reports and 29 ongoing National and Regional projects.
This is in addition to about 60 Trust Funds.
Since 1958, the World Bank Group has supported Nigeria with International Bank for Reconstruction and Development (IBRD) loans and International Development Association (IDA) credits worth about 14.2 billion dollars.
The World Bank Group in 2017 fiscal year alone, committed 1.51 billion dollars and so far in 2018, the bank had already spent 486 million dollars on different development projects across the country.
Some of the projects include Electricity Transmission Project, Agro-Processing, Productivity Enhancement and Livelihood Improvement Support Project, Polio Eradication Support Project and Housing Finance Development Programme to name a few.