Global economic growth is expected to decline in 2025 due to increased trade barriers and policy uncertainty, the World Bank has said. Growth is projected to weaken to 2.3 per cent, or nearly half a percentage point lower than expected at the start of the year, according to the Global …
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GLOBAL economic growth is projected to slow to 2.3 per cent in 2025 due to mounting trade tensions and persistent policy uncertainty, according to the World Bank’s latest Global Economic Prospects report. A statement from the bank’s Online Media Briefing Centre on Tuesday noted that the new forecast was nearly …
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WORLD Bank has called for more impact-driven partnerships to address the development challenges in Africa. This call is part of a broader push for more collaborative and outcome-focused development efforts, recognising that global challenges like climate change, health pandemics, and economic instability require a concerted effort from various stakeholders The …
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THE Minister of Water Resources and Sanitation, Prof. Joseph Utsev, has urged the World Bank to increase its support for Nigeria’s plans to upgrade existing dams and develop new irrigation systems. He said the enhanced support would help advance the Federal Government’s vision of achieving food security and boosting hydropower …
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THE World Bank has approved a $350 million grant for the Mpatamanga Hydropower Storage Project, a landmark initiative expected to double Malawi’s hydropower capacity and extend electricity access to over one million households. The financing was confirmed in a statement issued late Thursday by the Bank, which described the project as a …
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THE World Bank has projected that poverty in Nigeria will increase by 3.6 percentage points over the next five years, rising through 2027. This is according to the Bank’s Africa’s Pulse report, released during the ongoing Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, …
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THE World Bank Group has inaugurated private sector investment Lab with expanded membership which focuses on job creation. The World Bank Group President Ajay Banga said this at the ongoing International Monetary Fund (IMF)/World Bank Meetings on Wednesday in Washington D.C. According to him, this new chapter also expands the …
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Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has called for enhanced global support for reforming economies. Edun made the call at the G-24 Ministerial Meeting held on the sidelines of the ongoing 2025 IMF World Bank Spring Meetings in Washington D.C , on Wednesday. …
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THE World Bank Group on Wednesday announced the inauguration of the next phase of its Private Sector Investment Lab(PSIL), focused on implementing proven solutions at scale. This is contained in a statement issued by the World Bank Online Media Briefing Centre made available to the News Agency of Nigeria (NAN) …
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THE World Bank has clarified that its planned $10.50 million financing to the Central Bank of Nigeria (CBN) is a grant, not a loan. This clarification comes after earlier reports suggested that Nigeria had sought a $10.50 million loan to enhance the CBN’s technical capacity and modernize the country’s domestic payment …
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