The World Bank projects in various sectors of the economy in Nigeria have hit over $4 billion, MS Marie-Françoise Marie-Nelly, the bank’s? country representative in Nigeria said yesterday in Abuja.
Addressing journalists on the bank’s strategy in Nigeria, she said the bank had 25 major projects in the country.
“Currently, our active portfolio in Nigeria, meaning the number of projects we are working on is 25 for a total amount of more than $4 billion and out of that, we have about 60 per cent which has not been disbursed.’’
She continued: “ It’s? rather? a young portfolio and we are involved in a number of sectors, the large part is infrastructure, that is sustainable development. FADAMA III is $250 million,? and we have disbursed $170 million , it’s more or less disbursed 50 per cent half way. We still have to go two years from? 2012 to 2013 to complete the project.”
According to her, the transport sector had a total portfolio of $580 billion.
She hinted? that on infrastructure development,the bank would focus on power, while on agriculture, it would continue with the FADAMA project .
She? said? the bank would partner government in the areas? of? education, human development education and social protection.
Marie-Nelly pointed out that the bank’s strategy in the case of Nigeria had been planned with other key stakeholders like the African Development Bank,and? DFID that are major partners to Nigeria in the development agenda.
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