The World Bank says it will step up financial support to Nigeria in priority needs areas of the economy.
The World Bank Managing Director of Operations, Anna Bjerde , made this known on Thursday after a courtesy visit on President Bola Ahmed Tinubu at the State House, Abuja.
Bjerde said the Bank would continue to support the reforms of the President Tinubu’s administration through its supportive instrument.
“The World Bank will continue to support the reforms of President Tinubu’s administration through the supportive instrument that we have and we will be stepping up our financial support to Nigeria in line with all the different initiatives that are being taken and all the needs that the economy has.”
The World Bank Chief expressed optimism that the Bank would grow its currently running program with the Nigerian government.
“So while we already have large programe , from this visit we already see that the programs will grow from there. I have been pleased with the discussions we had over the last meeting with the President,” Bjerde added.
The Minister of Finance and the Coordinating Minister of the Economy, Mr. Wale Edun, said that Nigeria hosted a mini summit of the West and Central Africa finance Ministers with the World Bank and other major partners in the multilateral investment guarantee agency.
Mr. Edun added that issues of development and concessional financing for the West and Central Africa were top on the agenda of the summit.
“We had a mini summit and issues of development and increasing the level of concessional financing to west and Central Africa were on the agenda and we reported to the President that we had a robust discussion.”
The Minister also said that Nigeria advocated for increased resources towards the improvement of electricity and creating more access to social safety net.
He said the target is to provide better support for Nigeria in digitisation and technological development of Nigeria’s economy.
“Emphasis were laid on increasing resources to Nigeria and to west and Central Africa and also to improve electricity access, growing the social safety net, providing greater support for digitisation and technological development of our economies and to assist in our search for solutions to the issue of development and leading more people out of poverty.”
