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The World Bank is an institution that was established in 1944 and since 1958 has provided Nigeria with low interest rate loans and grants through the International Development Association(IDA) and International Bank for Reconstruction and Development (IBRD). [1]
The World Bank Group building (Washington, DC) The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries. It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. [50]
The World Bank Institute is the capacity development branch of the World Bank, providing learning and other capacity-building programs to member countries. The IBRD has 189 member governments, and the other institutions have between 153 and 184. [2] The institutions of the World Bank Group are all run by a board of governors meeting once a year ...
Nigeria is located in western Africa on the Gulf of Guinea and has a total area of 923,768 km 2 (356,669 sq mi), [102] making it the world's 32nd-largest country. Its borders span 4,047 kilometres (2,515 mi), and it shares borders with Benin (773 km or 480 mi), Niger (1,497 km or 930 mi), Chad (87 km or 54 mi), and Cameroon (including the ...
The largest African Development Bank shareholder is Nigeria with nearly 9% of the vote. All member countries of the AfDB are represented on the AfDB Board of Executive Directors. Dr. Akinwumi Ayodeji Adesina is the 8th elected [1] President of the African Development Bank Group, having taken the oath of office on September 1, 2015.
The World Bank has regularly failed to live up to its own policies for protecting people harmed by projects it finances. The World Bank and its private-sector lending arm, the International Finance Corp., have financed governments and companies accused of human rights violations such as rape, murder and torture.
Nigeria is a federal republic in West Africa, bordering Benin in the west, Chad and Cameroon in the east, and Niger in the north. As of 2015 Nigeria has the world's 20th largest economy, worth more than $500 billion and $1 trillion in terms of nominal GDP and purchasing power parity respectively.
Abuja, Nigeria's capital city A back view of Civic Towers, Lagos Nigeria is the most heavily populated and one of the most economically developed nations on the African continent. However, the concentration of high-rise buildings and ongoing mega-projects is significantly localized around Lagos , Abuja and Eko Atlantic ; these key marginal ...