Nigeria’s liabilities to the World Bank Group now stands at $8.52bn, investigation has shown.

Statistics obtained from the Debt Management Office in Abuja on Wednesday showed that the group’s portfolio rose from $5.73bn as of March 31, 2015 to $8.52bn as of March 31, 2018.

This means that the bank’s commitment to the country rose by $2.7bn within a period of three years, which is an increase of 48.69 per cent.

There are, however, new disbursements and approvals from the World Bank Group that have not been captured in the country’s debt statistics.

An example of this is the $2.1bn approved by the board of the bank in June for seven projects to support Nigeria’s investment in nutrition, access to electricity, states’ fiscal transparency, polio eradication, women’s economic empowerment, public finance and national statistics, and reducing vulnerability to soil erosion.

Source and more:
World Bank portfolio in Nigeria rises to $8.52bn http://www.sanwomi.com/2018/07/world-bank-portfolio-in-nigeria-rises.html


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