02
JunThe World Bank’s Board of Executive Directors has approved a loan of US$255 million to support a program that will reduce methane emissions, improve irrigation and drainage services, and provide agricultural support for climate-resilient rice production in Hunan province, China’s largest rice production area. For China and other nations that grow rice, it will produce knowledge and experiences that are reproducible and scalable. According to Mara Warwick, Country Director for China, Mongolia, and Korea at the World Bank, “The Methane-Reducing and Water-Saving Paddy Rice Program will provide creative solutions to promote climate mitigation in China’s agriculture sector.” The initiative offers […]
25
MayThe monetary policy rate (MPR), which measures interest rates, has been increased by the policy-setting committee of the Central Bank of Nigeria (CBN) from 18 percent to 18.5 percent. Nigeria’s inflation rate increased to 22.22 percent last week as a result of the spike in food costs. Every other interest rate employed in an economy is based on the monetary policy rate (MPR), which serves as its foundation. The revelation was disclosed to the media on Wednesday following the committee meeting at the CBN headquarters in Abuja by Godwin Emefiele, governor of the federal bank. The apex bank would increase[…]
27
AprThe African Development Bank (AfDB) and the Japan International Cooperation Agency (JICA) have signed a JPY 44,100,000,000 (350 million dollars) loan agreement to pay for the Bank’s support of African private sector operations. According to a statement issued by the bank on Thursday in Abuja, the loan is under the Enhanced Private Sector Assistance (EPSA) initiative, a component of Japan’s Official Development Assistance to Africa.The Fifth Version of the Four Billion Dollar EPSA was signed in August 2022 in Tunis, Tunisia, at the Eighth Tokyo International Conference on African Development (TICAD 8).JICA President Dr. Tanaka Akihiko and AfDB President Dr.[…]