Search results
Results from the WOW.Com Content Network
The board approved the project on May 8, 2012. It commenced operation on September 16, 2013, with the appointment of Amos Abu, Ruth Jane Kennedy-Walker, and Grant Milne as team leaders, the Federal Ministry of Environment as the implementing agency, and a total project cost of US$650 million and committed amount of World Bank of US$500 million.
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 was created at the 1944 Bretton Woods Conference, along with the International Monetary Fund (IMF). The president of the World Bank is traditionally an American. [12] The World Bank and the IMF are both based in Washington, D.C., and work closely with each other.
A 2017 World Bank report on logistics hubs in Africa placed the country in fourth place, behind Côte d'Ivoire, Senegal, and Sao Tome, [216] but in 2021, Nigeria joined the World Logistics Passport, a private sector group working to increase the effiency of global trade.
Okonjo-Iweala spearheaded several World Bank initiatives to assist low-income countries during the 2008–2009 food crises and later during the financial crisis. In 2010, she was the chair person of the IDA replenishment, the World Bank’s successful drive to raise $49.3 billion in grants and low-interest credit for the poorest countries in ...
The World Bank strongly disputes that its money supported the mass evictions in western Ethiopia. Even as Anuak refugees and human rights groups have publicly charged that World Bank money has been used to bankroll brutal evictions, the bank has continued to send hundreds of millions of dollars into the same health and education program.
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.
The World Bank Group is the globe's most prestigious development lender, bankrolling hundreds of government projects each year in pursuit of its high-minded mission: to combat the scourge of poverty by backing new transit systems, power plants, dams and other projects it believes will help boost the fortunes of poor people.