World Bank approves $750m loan to Nigeria

The World Bank has said it has approved $750m loan to Nigeria for State Action on Business Enabling Reforms. According to World Bank, the first tranche of the money should by received by December 2022.

In a notification on the World Bank’s website, about $0.5m to $4m would be released to Nigerian states based on certain criteria.

The fresh loan is from a Program for Results instrument under the State Action on Business Enabling Reforms.

The programme would run from 2023 to 2025. It will be built on the Presidential Enabling Business Environment Council.

The programme aims to improve the efficiency of land administration, the regulatory framework for private investment in fiber optic infrastructure, services provided by investment promotion agencies and public-private partnership units. It is also targeted at achieving efficiency and transparency of government-to-business services in participating states.

Source: World Bank approves $750m loan to Nigeria – StocksWatch (stocksng.com)

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