Nigeria, others get $10.6bn for 141 projects

The World Bank Group loan and grant approvals for Nigeria and other Sub-Saharan African countries have hit $10.6bn.

In its 2014 Annual Report, the bank said its assistance to Africa reached a record high this fiscal year with the approval of $10.6bn for 141 projects.

Support included $420m from International Bank for Reconstruction and Development and $10.2bn from International Development Association.

The leading sectors are public administration, law and justice ($2.1bn); energy and mining ($1.9bn); and transportation ($1.5bn).

Specifically on Nigeria, the bank said, “In a major push, IBRD, IFC, and MIGA combined forces under a joint Energy Business Plan for Nigeria.