The World Bank has said that it is in talks with Nigeria for a fresh loan of $2.5bn.
The Vice-President for the African division of the World Bank, Hafez Ghanem, said this during an interview withGhanem said, “We’re talking about a new set of programs of about the same amount, it should be around $2.5bn.”
“The current economic performance of Nigeria is not enough to reduce poverty,” said Ghanem. “We need to accelerate growth.” The World Bank is supporting digital transformation in Nigeria because of its potential ability to transform other areas of the economy including industry, agriculture and services, according to Ghanem.
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