SAN FRANCISCO, June 09, (THEWILL) – The World Bank Board of Executive Directors has approved 575 million dollars additional financing in International Development Association (IDA) credit to scale up its support to Nigeria’s North-East.
The information is contained in a statement obtained from World Bank’s website on Thursday in Abuja.
It stated that the support fund would help to rebuild livelihoods in the region, which is home to 1.8 million Internally Displaced Persons (IDPs).
It noted that the Boko Haram insurgency had taken a toll on the six northeast states of Borno, Yobe, Adamawa, Taraba, Bauchi and Gombe and the states cannot meet the most pressing needs of the millions of people affected by the ongoing conflict.
The World Bank estimated that some 15 million people had been affected by the crisis.
It also identified three strategic areas of intervention to restore stability in the region which are promoting peace and social cohesion, rebuilding infrastructure and social services and creating conditions for economic recovery.
The statement indicated that the World Bank support would be in four sectors namely, social protection sector, agriculture sector, education sector, and health sector.
Story by David Oputah
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