Page 6 - Development Policy Financing News Today

The board of directors of the Asian Infrastructure Investment Bank approved providing Egypt a development financing of $360 million to scale up impact in achieving the Sustainable Development Goals (SDGs) and achieve a robust recovery from COVID-19 pandemic.

WASHINGTON– The World Bank Board of Executive Directors approved a US$500 million loan today aimed at supporting the Colombian government’s strategy for the social and economic integration of Venezuelan migrants in that country.This is the first Deve

The World Bank’s (WB) Board of Executive Directors has approved a $360 million Development Policy Financing (DPF) loan for Egypt to support its second wave of economic reforms.

At the beginning of the Covid-19 pandemic, the World Bank made it clear that it was going to use the crisis to promote its development vision and implement far-reaching structural reforms, especially those aligned with the promotion of ‘private sector solutions’. It also made clear that it would rely on Development Policy Financing (DPF) to carry out its Covid-19 response. This report investigates the use of DPF in the WB's Covid-19 response, finding that a total of US$22.9...

Soon after the approval, the two sides signed the loan agreements for quick disbursements. Secretary of Ministry of Economic Affairs Noor Ahmed and the World Bank’s Acting Country Director Melinda Good signed the agreements on behalf of respective sides. The ministry said the first loan pertains to the Second Securing Human Investments to Foster Transformation — Development Policy Financing (SHIFT-II) Programme worth $400m. The programme financing is aimed at strengthening civil registrat...

Former chairman of First Bank Nigeria Limited, Mrs. Ibukun Awosika has said that the decision to sack reinstated Managing Director of the bank, Adesola Adeduntan, was done in the best interest of the institution. Awosika in a statement released via her Instagram account, said the decision to end the tenure of Adeduntan as the bank’s Managing Director was taken in the bank’s best interests. “In October 2010, I was appointed to join the board of First Bank of Nigeria and appointed the board...

Daily Post Nigeria Published Mr. Emefiele gave the challenge during a lecture on “Jump-Starting Agricultural Revolution: The CBN Experience” in Makurdi. He said the university community has a responsibility to foster research to enhance yields per hectare by farmers and reduce other constraints, such as access to markets and storage facilities for their produce. He said ‘‘The CBN is eager to see how the university community graduates can leverage their knowledge and research to come up ...

Daily Post Nigeria Published The Ooni of Ife, Oba Enitan Adeyeye Ogunwusi has refuted claims that he would honour former presidential aspirant, Adamu Garba, with a traditional title. Garba had announced that the monarch would bestow on him the title of Aare Atunluse of Oodua on May 1, 2021. Garba tweeted that Ooni found him “worthy of the title of Aare Atunluse Oodua Award of Honor to be conferred on the 3rd World Omoluabi day 1st May 2021.” He shared a letter of invitation to the event Wor...

Daily Post Nigeria Published The Senate, on Wednesday, approved the sum of $2.6 billion out of the $5.5 billion external borrowing request sent to the National Assembly by President Muhammadu Buhari in May last year. The approval came after the Upper Chamber considered a report by the Committee on Local and Foreign Debts during plenary. The approved sum, according to the Chairman of the Local and Foreign Debt Committee, Clifford Ordia, would see €995 million euros going to finance priority pr...

Daily Post Nigeria Published As part of efforts toward sanitising the state’s natural resources sector, the Government of Osun State has warned mineral resources explorers who fall short of environmental standards in the state to henceforth comply with the government’s regulations or face legal action. Governor Adegboyega Oyetola disclosed this on Wednesday while inaugurating the Osun Mineral Resources and Environmental Management Committee in the state. Oyetola, who bemoaned the negative i...