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Nigeria's $1.5bn Loan Request Approved By World Bank - Politics - Nairaland

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Nigeria's $1.5bn Loan Request Approved By World Bank by lalasticlala(m): 11:54am On Dec 15, 2020
The World Bank has approved Nigeria’s loan request of $1.5 billion, as Africa's most populous nation and largest economy battles a coronavirus-induced recession.

In a statement issued on Tuesday, December 15, the Bretton Woods institution said the loan facility is a five-year Country Partnership Framework (CPF) that will last till 2024.

“This country partnership framework will guide our engagement for the next five years in supporting the government of Nigeria’s strategic priorities by taking a phased and adaptive approach,” said Shubham Chaudhuri who is the World Bank's Country Director for Nigeria.

“To realize its long-term potential, the country has to make tangible progress on key challenges and pursue some bold reforms. Our engagement will focus on supporting Nigeria’s efforts to reduce poverty and promote sustained private sector-led growth.”


$1.5 billion was also tied to two projects in Nigeria, namely: Nigeria COVID-19 Action Recovery and Economic Stimulus – Program for Results (Nigeria CARES) and the State Fiscal Transparency, Accountability and Sustainability Program for Results (SFTAS).

Government revenues have dipped by 60 percent in Nigeria due to a crash in global oil prices and the COVID-19 pandemic.

The President Muhammadu Buhari-led federal government has also ceased the payment of subsidy on petrol because it can no longer afford to do so.

Nigeria officially slipped into a recession in November.

https://www.pulse.ng/business/world-bank-grants-dollar15-billion-loan-to-nigeria/l1p95w6

4 Likes

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Abduletudaye(m): 11:54am On Dec 15, 2020
FTC cheesy cheesy

25K Ntel truly unlimited internet available..

3 Likes 3 Shares

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Jashub: 11:57am On Dec 15, 2020
Our unborn children just inherited slavery

124 Likes 8 Shares

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Nobody: 11:58am On Dec 15, 2020
another loot landed

funniest thing is zombies no go taste out of this loot

one day one day , these people lending us money will simply ask for every citizen's BVN and pay directly to everyone's account

61 Likes 6 Shares

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by gurunlocker: 11:59am On Dec 15, 2020
We can't even calculate how much this government have borrowed since 2015.... grin grin



Still, nothing to show for it....

103 Likes 7 Shares

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by FirstbornWds: 11:59am On Dec 15, 2020
In DJ Khalid's voice...

Another one!!!

63 Likes 2 Shares

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Racoon(m): 12:00pm On Dec 15, 2020
By assenting to this slavish economic decision, the world bank/IMF should never in their life say anything about the moribund Nigeria economy again.

They are helping a clueless govt in their inordinate quest to perpectually mortgage Nigeria into eternal indebtedness hence are all wicked tool of oppression by the western imperialists.

48 Likes 2 Shares

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by inoki247: 12:00pm On Dec 15, 2020
We muvee...


At least we don get money to bail our Kastina people son...

And with this Dollar will soon equal 1 naira to 1 dollar and everywhere go dey sparkling bright like Tokyo and Dubai in BMC crew voice....

13 Likes

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by RedPanthar: 12:01pm On Dec 15, 2020
From 21 Trillion Naira loan to 36 Trillion Naira indebted in just 5 years.


Continue mortgaging the future when Nigeria breaks, you'll fight on how to share the debt repayment. Fulls

29 Likes 1 Share

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by danchuzzy(m): 12:11pm On Dec 15, 2020
We don die

In fact...

Another banga!!!!

2 Likes

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by ATEAMS: 12:11pm On Dec 15, 2020
Awoooof
Re: Nigeria's $1.5bn Loan Request Approved By World Bank by omoyankee3(m): 12:11pm On Dec 15, 2020
borrow borrow

6 Likes

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by GIANTPLUSHUB: 12:12pm On Dec 15, 2020
Mheen! I hope it's put into good use!
Re: Nigeria's $1.5bn Loan Request Approved By World Bank by cletz991(m): 12:12pm On Dec 15, 2020
Plunging further into debt.why de just de approve these loan anyhow

1 Like

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Jollylolly(f): 12:12pm On Dec 15, 2020
$1.5 billion was also tied to two projects in Nigeria, namely: Nigeria COVID-19 Action Recovery and Economic Stimulus – Program for Results (Nigeria CARES) and the State Fiscal Transparency, Accountability and Sustainability Program for Results (SFTAS).
Re: Nigeria's $1.5bn Loan Request Approved By World Bank by BruncleZuma: 12:12pm On Dec 15, 2020
grin grin grin grin

Fulani Insurgents ransom money don show...the bros below gets it.

26 Likes 3 Shares

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by youngeagle(m): 12:12pm On Dec 15, 2020
Boko Haram allowee just landed

43 Likes 1 Share

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Lanre4uonly(m): 12:12pm On Dec 15, 2020
It is well.
Re: Nigeria's $1.5bn Loan Request Approved By World Bank by bligs: 12:12pm On Dec 15, 2020
Cash out season for the big guns, if you know you know. grin

17 Likes

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Harry45fjggyr: 12:12pm On Dec 15, 2020
tongue
Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Basicend: 12:13pm On Dec 15, 2020
Enslaving the future generations.

Dump leaders who can't think.

What a shame.

5 Likes

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Exc2000: 12:13pm On Dec 15, 2020
Such a poor lazy country


200 million people who can't think or work to earn revenue

13 Likes

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by revived: 12:13pm On Dec 15, 2020
Wahala
Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Judithjovial(f): 12:13pm On Dec 15, 2020
Chai this people go finish this money before 2023 cheesy
Don't forget to checkout my signature

6 Likes 3 Shares

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by BanevsJoker(m): 12:13pm On Dec 15, 2020
The World Bank are complicit in the destruction of this country. Why do you keep giving money to these criminals?

16 Likes

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by BlessedNuel: 12:13pm On Dec 15, 2020
World Bank just dey give out loan to a country wey her economy is literally something one can't write home about.

They know what they are doing..the kin debt wey dx country dey owe fit swallow 40FT container

7 Likes

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by MrNipplesLover(m): 12:13pm On Dec 15, 2020
the doomsday is near.... grin

1 Like

Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Jesuyinka01(m): 12:13pm On Dec 15, 2020
I'm just waiting for 2023 undecided undecided lipsrsealed
Re: Nigeria's $1.5bn Loan Request Approved By World Bank by dionflex: 12:13pm On Dec 15, 2020
We go dey collect loan up and down
My only happiness is that it is being given to Amaechi to facilitate his Presidential Ambition.

Thiefnubu AKA JAGABAN OF BULLION VAN the drug Baron no fit cough, if not...
Re: Nigeria's $1.5bn Loan Request Approved By World Bank by Bravejayh: 12:14pm On Dec 15, 2020
Why can't our billionaires contribute money and loan it to FEDERAL GOVERNMENT. lipsrsealed

7 Likes 1 Share

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