HAITIAN GANG MEMBER WHO YELLED 'F*K TRUMP, I'M NOT GOING BACK TO HAITI' HAS BEEN DEPORTED. (PHOTO)
The World Bank Group's Board is scheduled to meet today (Friday) to decide on a $500 million loan for Nigeria, aimed at enhancing rural access and agricultural marketing in the country.
The loan is intended for the Rural Access and Agricultural Marketing Project—Scale Up, which seeks to connect rural communities with broader markets, improving access to agricultural markets, schools, hospitals, and fostering social cohesion among rural populations.
The loan project, expected to be approved on December 13, 2024, is part of ongoing efforts to strengthen Nigeria's rural infrastructure and promote food security. States that wish to participate must have a functional Roads Fund and Roads Agency, with provisions for administrative costs in their state budgets. Additionally, the project will encourage greater female representation in the transport sector.
This would mark the 10th World Bank loan under President Bola Tinubu’s administration. In total, the Federal Government has secured $6.45 billion from the World Bank over the past 16 months, with 36 loans amounting to $24.088 billion approved over five years.
While these loans aim to fund critical development projects, concerns about Nigeria's rising debt and its potential economic impact persist.
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