Nigeria, others to get $93bn replenishment package from World Bank

Nigeria is set to get a part of a $93 billion replenishment package from the World Bank through the International Development Association to help its economy.

Nigeria is one of the 74 other poor countries that will benefit from the finance package, which was agreed upon during a two-day virtual conference hosted by Japan.

48 high and middle-income countries have committed to support with $23.5 billion, while the rest of the financing would come from capital market financing, repayments, and World Bank contributions, making it the largest amount ever mobilised…