The World Bank has approved $11.5bn credit for Western and Central African countries for 98 operations.
The World Bank said this in its ‘Annual Report 2021: From crisis to green, resilient, and inclusive recovery’.
The bank said, “In fiscal 2021, the bank approved $11.5bn in lending to Western and Central Africa for 98 operations, including $500m in IBRD commitments and $11.0bn in IDA commitments. Revenue from Reimbursable Advisory Services agreements with one country was $700,000.
“To help countries in the region tackle the COVID-19 crisis, we are investing in health and expanding safety nets for their most vulnerable people. We are also supporting recovery by helping strengthen the social contract between citizens and governments, bolster job creation and economic transformation, improve human capital, empower women, and boost climate resilience.”
The bank said in its fiscal 2021, it committed $1.5bn through 12 development policy operations to support countries’ pandemic responses and recovery efforts.
“In Nigeria, we are helping the government implement fiscal measures to promote transparency and accountability, strengthen links between states and the federal government, and promote citizen engagement.” the statements read in part.
