NewsExpress advert Yudala banner
African Development Bank commits to Nigeria’s economic recovery efforts

By News Express on 31/10/2017

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 446


The African Development Bank (AfDB) on Tuesday “categorically” refuted the statement that it has “called off loans to Nigeria”, as reported in Reuters and credited to AfDB Vice-President for Power, Energy, Climate and Green Growth Amadou Hott.

AfDB Director, Communication and External Relations, Dr. Victor Oladokun, said in a statement issued in Abidjan, Ivory Coast: “The African Development Bank is highly encouraged by the economic recovery of Nigeria from recession and salutes the Government’s efforts towards diversification of the economy. The Bank also strongly supports the Economic and Growth Recovery Plan of the Government and efforts to stem corruption and strengthen fiscal consolidation and efficiency.

“In November 2016, the Board of the African Development Bank approved a $600-million loan to support Nigeria's efforts to cope with macroeconomic and fiscal shocks that arose from the massive decline in price of crude oil. An additional $400 million in support could be considered, if requested and approved by the Board, as part of a larger coordinated effort with other development partners, including the World Bank and the International Monetary Fund.

“The African Development Bank is in consultations with the Government on how best to continue its support for its laudable Economic and Growth Recovery Plan through investment projects that will help address existing structural challenges, including infrastructure, power, agriculture and support to boost private sector and job creation.

“The Bank assures the Nigerian Government of its full support for its continued reforms to diversify the economy and boost economic growth and development.”

Source News Express

Posted 31/10/2017 3:40:29 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
NPA to hasten completion of Lekki, Ibom deep...

U.S. Ambassador suggest solution to herdsmen/farmers clashes

Islamic universities charged on knowledge integration

JAMB makes U-turn, may admit students with scores...

OBJ’s letter to Buhari: Jonathan’s political godson tackles...

FG grants amnesty to 7,000 repentant Niger Delta...

Immediate past Ebonyi Govt. didn’t care about education...

Nigerian Army clears the air on Plateau bomb...

6 Governors, other heavyweights storm Obingwa for Ikpeazu’s...

Nigerians in Scotland vote for secession

Dwindling revenue has taught us a lesson —Aregbesola...

Enugu Governor orders immediate fortification of Nsukka Prison...

 

Latest News Buhari’s son rumoured dead but Presidency says very much alive Yobe school attack: 2 girls reported dead, 13 still missing Stop extorting money from innocent Igbo traders, Okorocha tells Customs Teleology emerges 9mobile preferred bidder, given 21 days to deposit non-refundable $50m Court declares daytime curfew of Oro festival illegal in Ogun FG to invest in modular refineries PDP expresses shock over missing Dapchi school girls, tasks Police IG Budget Minister briefs National Assembly leadership on economic recovery focus labs Ekiti movement releases ‘Neighbor to Neighbor’ outreach timetable for Fayose’s preferred successor African migrants begin hunger strike over Israel policy Delta State Government seeks parents’ support for measles vaccination campaign NSCDC officials who shot Bayelsa youths acted in self-defence: State Commandant

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (326,099 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (317,790 views) Shameless Genevieve Nnaji exposes breasts in public (254,526 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (208,794 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (194,685 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (187,604 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (163,275 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (146,590 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,336 views) Lagos plane crash: Journalist releases victims’ names (129,464 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (127,967 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (123,060 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,899) Business Verdict (34) Columnists (804) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (446) Features (549) Global Business Monitor (226) International (1,799) Interviews (143) Live Commentary (28) Love Matters (105) News (33,033) Opinion (883) Pidgin (10) Politics (4,512) Religion (681) Sports (1,438) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement