World Bank to disburse $159.5m for growth, employment

The World Bank would disburse $159.5 million (about N25.679 billion) on growth and employment project in Nigeria before the end of 2017.
Notice of the disbursement is contained in a World Bank report titled: “Fostering Transformational Development in Nigeria,” made available to the News Agency of Nigeria on Friday in Abuja.
The bank said the project was aimed at addressing the gap that prevented key growth centres from expanding and supporting small and medium enterprises to develop new business models.
“It is also aimed at creating an enabling business environment,” the report said.
It stated that over 500 enterprises and artisans have benefited from interventions in the meat, leather and construction sectors funded by the Department For International Development.
The World Bank report noted that key preparatory activities included the development of stakeholders networks, especially in the entertainment and ICT sectors.
“Policy development has also been supported,” it added.
It added that the August 2010 “job summit” had helped to identify new ways for government to support targeted sectors.