• Latest
  • Trending
World Bank to Help Nigeria Lift 100 Million Out of Poverty

World Bank to Help Nigeria Lift 100 Million Out of Poverty

April 8, 2021
Nigerian Forward Iheanacho Named Premier League Player of the Month for March

Nigerian Striker Iheanacho Scores Only Goal as Leicester Edge Southampton to Reach FA Cup Final

April 18, 2021
Clubhouse Loses New Round of Funding That Would Value App at $4bn

Clubhouse Loses New Round of Funding That Would Value App at $4bn

April 18, 2021
US Warns of Consequences If Jailed Kremlin Critic Navalny Dies

US Warns of Consequences If Jailed Kremlin Critic Navalny Dies

April 18, 2021
Finance Minister Says Nigeria Taking $750m World Bank Loan on Behalf of States, Blames Transport Costs for Inflation

Nigeria: Finance Minister Ahmed to Host Dialogue Looking to Create Safe Learning Communities for Students  

April 18, 2021
Premier League Condemns Plan For $6bn European Super League as Uefa Vows to Stop ‘Cynical Project’

Premier League Condemns Plan For $6bn European Super League as Uefa Vows to Stop ‘Cynical Project’

April 18, 2021
Arsenal Edge Fulham Closer to Relegation After Last-gasp Nketiah Equaliser

Arsenal Edge Fulham Closer to Relegation After Last-gasp Nketiah Equaliser

April 18, 2021
Bayern Munich ‘Disapprove’ of Flick’s Desire to Leave Coaching Role

Bayern Munich ‘Disapprove’ of Flick’s Desire to Leave Coaching Role

April 18, 2021
ARISE.TV HEADLINES 18-04-21

ARISE.TV HEADLINES 18-04-21

April 18, 2021
Morning Show

Morning Show

April 18, 2021
Lebanon Faces Tough Ramadan Amid ‘Insane’ Food Prices

Lebanon Faces Tough Ramadan Amid ‘Insane’ Food Prices

April 18, 2021
US, China Agree to Cooperate on Climate Crisis with Urgency

US, China Agree to Cooperate on Climate Crisis with Urgency

April 18, 2021
1,081,548 Nigerians Receive Astrazeneca Vaccine Jabs

1,081,548 Nigerians Receive Astrazeneca Vaccine Jabs

April 18, 2021
India Investigates If Organochlorines Behind Unknown Illness

India Under Siege from Covid-19, Hospitals Overwhelmed

April 18, 2021
Czechs Expel 18 Russian Envoys, Accuse Moscow Over Ammunition Depot Blast

Czechs Expel 18 Russian Envoys, Accuse Moscow Over Ammunition Depot Blast

April 18, 2021
Nigeria Civil Aviation Approves Commercial Flight Operations at Bayelsa Airport   

Nigeria Civil Aviation Approves Commercial Flight Operations at Bayelsa Airport  

April 18, 2021
Niger Delta Minister Akpabio Says Forensic Audit of Development Commission to End in July

Niger Delta Minister Akpabio Says Forensic Audit of Development Commission to End in July

April 18, 2021
Restructuring Alone Can’t Solve Nigeria’s Problems, Former President Jonathan Says

‘You’re a Pathetic Fellow Who Lies to Remain Relevant’: Nigeria’s Ex-President Jonathan Blasts Ex-Niger Governor Aliyu

April 18, 2021
‘We Are Not Guinea Pigs’: Nigerian Preacher Bishop Oyedepo Rails Against  Vaccination 

‘We Are Not Guinea Pigs’: Nigerian Preacher Bishop Oyedepo Rails Against  Vaccination 

April 18, 2021
Nigeria: UN Suspends Humanitarian Operations in Dikwa and Damasak Following Boko Haram Attacks

Nigeria: UN Suspends Humanitarian Operations in Dikwa and Damasak Following Boko Haram Attacks

April 18, 2021
Sensational Messi Scores Twice as Barcelona Beat Athletic Bilbao to Win Copa del Rey

Sensational Messi Scores Twice as Barcelona Beat Athletic Bilbao to Win Copa del Rey

April 18, 2021
ARISE Newsnight

ARISE Newsnight

April 17, 2021
Chelsea End Man City Quadruple Dream to Reach FA Cup Final

Chelsea End Man City Quadruple Dream to Reach FA Cup Final

April 17, 2021
Bayern Munich Head Coach Flick Confirms Departure at End of Season

Bayern Munich Head Coach Flick Confirms Departure at End of Season

April 17, 2021
UK Passes Milestone of 100,000 Covid-19 Deaths

Global Covid-19 Death Toll Passes Three Million

April 17, 2021
Queen Elizabeth, 94, Stands Alone as Her ‘Strength’ Prince  Philip, 99,  Is Laid to Rest

Queen Elizabeth, 94, Stands Alone as Her ‘Strength’ Prince Philip, 99, Is Laid to Rest

April 17, 2021
Queen Elizabeth, 94, Stands Alone as Her ‘Strength’ Prince  Philip, 99,  Is Laid to Rest

Why the Queen Sat on Her Own During Prince Philip’s Funeral

April 17, 2021
ARISE NEWSDAY

ARISE NEWSDAY

April 17, 2021
Morning Show

Morning Show

April 17, 2021
Chicago Officials Release Graphic Video of Police Shooting and Killing 13-year-old

Chicago Police Critics Call for Charges in Shooting of 13-year-old Boy

April 17, 2021
Nigeria: Kaduna Government Says 5 of 39 Abducted Students ‘Recovered’ 

Nigeria: Kidnappers of Kaduna College Students Threaten to Kill 29 Abductees, Demand Close to $1million

April 17, 2021
en English
ar Arabiczh-CN Chinese (Simplified)nl Dutchen Englishfr Frenchde Germanit Italianpt Portugueseru Russianes Spanish
No Result
View All Result
Monday, April 19, 2021
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
Arise News
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates
No Result
View All Result
Arise News
No Result
View All Result
Home Latest

World Bank to Help Nigeria Lift 100 Million Out of Poverty

April 8, 2021
Reading Time: 3min
0 0
0
World Bank to Help Nigeria Lift 100 Million Out of Poverty

David Malpass

Share on FacebookShare on Twitter

The President of the World Bank Group, Mr. David Malpass, on Wednesday said the multilateral institution is focused on supporting the federal government’s bid to lift 100 million Nigerians out of poverty.

Malpass said during a media briefing at the ongoing virtual World Bank/International Monetary Fund (IMF) spring meetings in Washington DC that the World Bank would do so by supporting the government in its efforts to promote growth, job creation and shared prosperity.

According to him, as part of the efforts, the World Bank-supported Nigeria in ensuring fiscal and debt sustainability, including enhancing debt transparency and debt management at the federal and sub-national levels.

President Muhammadu Buhari had said his administration planned to lift 100 million Nigerians out of poverty over the next decade.

The president said his government would be tackling social inequality and entrenching better standards of living for the people.

Malpass added that the World Bank closely monitored the debt situation in member-countries through its joint IMF-World Bank Debt Sustainability Framework and raises debt issues with the government as part of an ongoing dialogue

Responding to a question on debt sustainability in Nigeria, he stated that the World Bank has engaged with the Nigerian government to improve the quality of public spending.

“Moreover, a key objective of the World Bank is to help attract private investment to crowd in financing for investments in infrastructure and human capital, for instance by de-risking private investments through public-private partnerships and foreign direct investments without increasing public debt levels,” he added.

On the situation in poor countries, Malpass stressed the importance of jobs in those countries, considering their increasing population.

He urged governments to create a conducive environment for new private sector businesses that promote job creation as countries prepare for economic recovery post-COVID-19.

He stated that the post-COVID-19 economic environment would be different from the situation pre-COVID-19.

Earlier, at the G20 Finance Ministers and Central Bank Governors’ Meeting, Malpass said in 2020, the bank achieved a record 65 per cent growth in commitments and a rapid doubling of its trade and working capital finance to help fill the banking vacuum that hit private sectors.

According to him, post-COVID-19 will leave lasting scars on developing countries, from closed schools and physical stunting of children to lost jobs, the depletion of savings and assets, and growing debt overhangs.

The crisis came on top of persistent development challenges, including stagnant median incomes, fragility and violence and damage caused by climate change, he said.

Obinna Chima

Tags: David MalpassPovertyWorld Bank
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2020 Arise News - Part of the Arise Media Group.

No Result
View All Result
  • HOME
  • Breaking
  • Global
  • Regional
  • BUSINESS
  • Politics
    • US ELECTION
  • Entertainment
  • Sports
  • TECH
  • Health
  • VIDEOS
  • Covid-19 Updates

© 2020 Arise News - Part of the Arise Media Group.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist