Nigeria Secure Lion's shares of 27trn from World Bank Fund

Nigeria, on Thursday, secured the biggest cut of the $65 billion (N27 trillion) funding from the World Bank’s International Development Association to African countries.

This was as the international organisation unveiled the 20th replenishment package, IDA-20, in Dakar, the Senegalese capital, to help low-income countries respond to the COVID-19 crisis and build more resilient economies.

According to a statement signed by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu, 70 per cent ($65 billion) of the entire package which amounted to $93 billion (N38 trillion), will be channeled to various African States with the largest share being allocated to Nigeria.