The World Bank has actively collaborated with the Federal Government to ensure the efficient and effective utilization of public funds for the betterment of Nigerian citizens.
During a courtesy visit to the Minister of Budget and Economic Planning, Atiku Bagudu, the World Bank Country Director, Mr. Shubham Chaudhuri, emphasized the bank’s commitment to partnering with both federal and state governments to drive transformative initiatives.
These initiatives encompass stimulating private investments, fostering job creation, supporting youth and women empowerment, and nurturing children’s development in Nigeria.
In his conversation with the press following the meeting, Chaudhuri elaborated on the extensive spectrum of assistance the World Bank has provided to Nigeria, spanning areas such as education projects, economic empowerment endeavors, and energy access for rural communities.
Beyond merely offering financial support, the discussion between the minister and Chaudhuri delved into the exchange of ideas and experiences derived from various countries.
Highlighting the World Bank’s global presence, Chaudhuri underscored the bank’s role in facilitating the sharing of successful strategies from one country to another.
The intention is to apply lessons learned in diverse contexts, such as implementing effective measures witnessed in Indonesia within the Nigerian landscape.
A significant aspect of this conversation revolved around Nigeria’s cash programs and ongoing state-led initiatives, in which the Ministry of Budget and Economic Planning plays a coordinating role for both federal and sub-national entities.
In response, the minister expressed gratitude for the comprehensive support extended by the World Bank to the ministry and the broader government.
He elucidated that the interactions between the ministry and the World Bank primarily revolved around blended development assistance projects, which incorporate a mix of loans and grants, often sourced from donors like the European Union.
This collaborative approach aims to harness resources effectively for advancing the nation’s development objectives.
