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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 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.
Umuguma is host to the two largest Housing Estates in the State: Imo Housing Estate and the World Bank Financed Scheme for Low Income Housing estate and a Federal Low Cost Housing estate. It served as Headquarters of a Brigade in the 2nd Division of the Biafra Army, during the Nigeria-Biafra War (1967-1970).
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 ...
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.
Onitsha (Igbo: Ọ̀nị̀chà Mmílí [7] or simply Ọ̀nị̀chà) is a city on the eastern bank of the Niger River, in Anambra State, Nigeria.Onitsha along with various cities and towns in southern Anambra State, northern Imo State and neighboring Delta State on the western bank of the Niger River, form a continuous metropolitan area.