25
SepThe World Bank has approved a new $700 million loan for Nigeria to improve the education and empowerment of adolescent girls, according to a statement published on its website on Friday. The new loan will provide additional funding for the Adolescent Girls Initiative for Learning and Empowerment, which is an ongoing initiative.The statement read, “The World Bank has approved an additional $700 million for Nigeria to expand the Adolescent Girls Initiative for Learning and Empowerment programme, whose objective is to increase secondary education opportunities for girls in targeted states.”The additional funding will expand project activities from the current seven states […]
04
SepThe African Development Bank (AfDB) and the Global Center on Adaptation will initiate a $1 billion climate adaptation initiative for African youth, according to AfDB president Akinwumi Adesina. Adesina made the announcement on Sunday at the African Climate Youth Assembly, which was held in Nairobi, Kenya, prior to the Africa Climate Summit. The initiative, dubbed “Youth Adapt,” will provide seed funding for ideas and enterprises led by young people, according to him. The AfDB president said the programme has in the past funded over 33 businesses of African adolescents across 19 countries, adding that some of the businesses have further[…]
17
AugThe Nigerian National Petroleum Company Limited (NNPC Ltd) has secured a $3 billion emergency loan for the repayment of petroleum oil in an effort to stabilize the naira. NNPC Limited announced in a statement on Wednesday that it had secured crude-for-cash financing from the AFRIEXIM Bank headquarters in Cairo, Egypt. The oil-for-cash loan is intended to stabilize the foreign exchange market and support the naira as it continues to decline. “The NNPC Ltd. and AfriEXIM bank have signed a commitment letter and terms sheet for a $3 billion emergency crude oil repayment loan,” the NNPC said. “The signing, which took[…]