Saturday, July 4, 2020

AfDB’s total commitment to Nigeria hits $5Bn

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The African Development Bank has said its active portfolio in Nigeria comprised 61 operations, with a total commitment of about $5bn as of December, up from $4.5bn in March 2019.

The AfDB disclosed this  while announcing the approval of Nigeria’s Country Strategy Paper 2020-2024 by its board of directors.

The bank said the new strategy paper was approved by the board on May 27.

The new five-year strategy builds on the successes and challenges of the 2013-2019 edition, and incorporates emerging developmental realities and opportunities shaping Nigeria’s political and economic landscape, including the post-COVID-19 period

AfDB’s Senior Director, Nigeria, Ebrima Faal, reaffirmed the institution’s support for the country’s socio-economic advancement.