The World Bank has approved two financing facilities of $2.25 billion for Nigeria to support the Federal Government’s efforts to stabilize the economy.
The approval was announced in a statement entitled, “Supporting Nigeria’s Homegrown Reforms: New World Bank Financing for Inclusive Growth and Revenue Diversification”.
The statement said: “The World Bank has today approved two operations: $1.5 billion for the Nigeria Reforms for Economic Stabilization to Enable Transformation, RESET, Development Policy Financing Program, DPF, and $750 million for the Nigeria Accelerating Resource Mobilization Reforms, ARMOR, Program-for-Results, PforR.