Post-Covid-19: World Bank to invest $5bn in Nigeria, 10 others

World Bank, Monday, said it would invest over $5 billion over the next five years to help restore degraded landscapes, improve agriculture productivity, and promote livelihoods in Nigeria and 10 other African countries as they recover from the COVID-19 pandemic.

The countries are; Nigeria, Burkina Faso, Chad, Djibouti, Ethiopia, Eritrea, Mali, Mauritania, Niger, Senegal and Sudan.

World Bank Group President David Malpass said the investment would help improve livelihoods as those countries recovered from the outbreak and dealt with the impact of biodiversity loss and climate change through 2025.

Malpass announced the aid at the One Planet Summit, a high-level meeting co-hosted with France and the United Nations that is focused on addressing climate change and biodiversity loss.

The money will fund interventions in agriculture, water, community development, food security, resilient infrastructure, landscape restoration, and renewable energy, Malpass said.

The funds would benefit countries in the Sahel region, Lake Chad and Horn of Africa, the Bank said in a statement.

Malpass said the World Bank’s PROGREEN global fund dedicated to boosting countries’ efforts to address landscape degradation would add $14.5 million for projects in Burkina Faso, Chad, Mali, Mauritania, and Niger.

Reuters

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