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Monday, 16 October 2017

World Bank Reveals Shocking Amount Of Money It Has Invested In Nigeria For The Past Few Years

The World Bank Group has said it has an investment portfolio of about $8.5billion scattered across states in Nigeria. This was contained in a statement issued on Sunday by Olufunke Olufon, a Senior Communications Officer at World Bank Nigeria. Olufon stated that the investments were to assist the 36 states of the federation and the federal capital territory (FCT), to reduce poverty and foster prosperity.

According to her, the clarification was important, because of concerns raised by Nigerians over the comment by World Bank president, Jim Yong Kim that President Muhammadu Buhari told them to concentrate on the Northern part of the country.

“In 2015, the government of Nigeria requested World Bank support to respond to the humanitarian and development crisis in the north-east of Nigeria,” the statement read.

“To assess the needs of the nearly 15 million people in the region impacted by the crisis, the World Bank Group, the UN and the 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.”

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