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FG will begin a $750 million World Bank-funded program

Marian RomainebyMarian Romaine
August 17, 2022
in News
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RECs are redeployed by INEC
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On Tuesday, the Presidential Enabling Business Environment Council outlined its strategies for launching a $750 million World Bank program in January of the next year.

This came about as Vice President Yemi Osinbajo stated on Tuesday that hard effort at the sub-national level was the only way to create the type of business environment Nigeria needed for significant economic growth. Osinbajo made the claim at a PEBEC meeting where he was briefed on the State Action on Business Enabling Reforms Program run by the secretariat and the World Bank, according to a statement signed by his Senior Special Assistant on Media and Publicity, Laolu Akande.

Dr. Jumoke Oduwole, Special Adviser on Ease of Doing Business and Secretary of PEBEC, said they have been working together for more than two years to conceptualize the SABER Program, The World Bank is starting this program for the first time at this level of global scope.

The World Bank, the PEBEC Secretariat, the Federal Ministry of Finance, Budget and National Planning, and the Nigeria Governors’ Forum Secretariat collaborated to construct SABER, a performance-based intervention, which she described as a three-year program lasting from January 2023 to December 2025. The $750 million operation is divided into two primary parts: a $20 million technical support for investment project finance and a $730 million program-for-results funding component.

Tags: federal characterFGworld bankyemi osinbajo
Marian Romaine

Marian Romaine

Marian Romaine is a seasoned content writer with a passion for translating complex technological concepts into accessible and engaging content.She is dedicated to creating engaging and informative content aiming to enhance both reader engagement and search engine visibility. Her writing combines a deep understanding of the subject matter with a talent for crafting clear, concise, and informative pieces.With 3 years of industry experience, her expertise includes crafting blog posts, articles, social media content, and website copy.

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