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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]
Kaduna Refining and Petrochemical Company (KRPC), one of Nigeria's four main oil refineries is located in Kaduna. It is supplied by a pipeline from the Niger Delta oil fields. [10] [19] A 2009 World Bank survey states that Kaduna is one of the top six cities with the highest unemployment. 20% of the population was estimated to be unemployed. [17]
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.
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 ...
Lagos (/ ˈ l eɪ ɡ ɒ s / LAY-goss; [10] [11] also US: / ˈ l ɑː ɡ oʊ s / LAH-gohss; [11] [12] Yoruba: Èkó), or Lagos City, is a large metropolitan city in southwest Nigeria.With an upper population estimated above 21 million dwellers, it is the largest city in Nigeria, and the most populous urban area on the African continent.
Between 2004 and 2013, the World Bank committed to lend or give at least $338 billion, according to bank data. Its private-lending affiliate, the International Finance Corporation, committed to invest at least $116 billion during the same period in corporations and other banks in pursuit of the overall goal of alleviating poverty.
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.
Énugwú is the capital city of Enugu State in Nigeria. It is located in southeastern part of Nigeria. The name Enugu is derived from the two Igbo words Énú Ụ́gwụ́, meaning "hill top", denoting the city's hilly geography.