{"id":33497,"date":"2020-12-15T17:41:54","date_gmt":"2020-12-15T17:41:54","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=33497"},"modified":"2020-12-15T17:41:54","modified_gmt":"2020-12-15T17:41:54","slug":"world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy","title":{"rendered":"World Bank approves $1.5billion loan to strengthen Nigeria\u2019s economy"},"content":{"rendered":"

Africa-Press<\/a> – Nigeria<\/a>. <\/strong><\/span>The World Bank has finally approved Nigeria\u2019s request for a $1.5 billion loan.<\/p>\n

World Bank made this known in a statement on Tuesday, noting that the loan is aimed to boost Nigeria\u2019s efforts to reduce poverty.<\/p>\n

The apex Bank Board of Directors approved the $1.5 billion for two projects, which include: Nigeria Covid-19 Action Recovery and Economic Stimulus \u2013Program for Results (Nigeria CARES) and the State Fiscal Transparency, Accountability and Sustainability Program for Results (SFTAS).<\/p>\n

It also stated that Nigeria is at a critical juncture, hence the approval of the loan<\/p>\n

\u201cWith the sharp fall in oil prices as a result of COVID-19, the economy is projected to contract by over 4% in 2020, plunging the country into its deepest recession since the 1980s. Government revenues could fall by more than 15 billion dollars this year, and the crisis will push an additional 5 million Nigerians into poverty in 2020,\u201d the statement read in part.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The World Bank has finally approved Nigeria\u2019s request for a $1.5 billion loan. World Bank made this known in a statement on Tuesday, noting that the loan is aimed to boost Nigeria\u2019s efforts to reduce poverty. The apex Bank Board of Directors approved the $1.5 billion for two projects, which include: Nigeria […]<\/p>\n","protected":false},"author":84,"featured_media":33496,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15,28,26],"tags":[1570,254,580],"class_list":["post-33497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-nigeria","tag-world-bank"],"yoast_head":"\nWorld Bank approves $1.5billion loan to strengthen Nigeria\u2019s economy - Nigeria<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank approves $1.5billion loan to strengthen Nigeria\u2019s economy\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Nigeria. The World Bank has finally approved Nigeria\u2019s request for a $1.5 billion loan. World Bank made this known in a statement on Tuesday, noting that the loan is aimed to boost Nigeria\u2019s efforts to reduce poverty. The apex Bank Board of Directors approved the $1.5 billion for two projects, which include: Nigeria […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-15T17:41:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2020\/12\/img-5fd8d83d508bb-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1734\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"World Bank approves $1.5billion loan to strengthen Nigeria\u2019s economy\",\"datePublished\":\"2020-12-15T17:41:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy\"},\"wordCount\":163,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2020\/12\/img-5fd8d83d508bb-scaled.jpg\",\"keywords\":[\"Africa Press\",\"Nigeria\",\"world bank\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/world-bank-approves-1-5billion-loan-to-strengthen-nigerias-economy\",\"name\":\"World Bank approves $1.5billion loan to strengthen Nigeria\u2019s economy - 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