World Bank Approves Loan To Support Sustainable Rice Production In China

The 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 […]



Nigeria’s To Experience Growth Of 2.5 Percent In 2022, According To The World Bank

According to the World Bank, the bounce is due to rising oil prices as well as faster development in telecommunications and financial services. The Nigerian economy is predicted to increase by 2.5 percent in 2022, up from 2.4 percent in 2021, according to the World Bank. According to the bank’s January 2022 Global Economic Prospects report, which was released on Tuesday, Nigeria’s growth is expected to go up slightly to 2.5 percent in 2022 and 2.8 percent in 2023. It attributed the rise in oil prices to the rebound, as well as faster growth in telecommunications and financial services. “Higher[…]



Nigeria’s Growth Rate Has Been Revised By The World Bank to 2.7 Percent In 2021 And 2.8 Percent In 2022

The World Bank has upped Nigeria’s economic growth predictions for 2021 and 2022 to 2.7% and 2.8%, respectively. The Bank made the announcement in the most recent edition of its Nigeria Development Update on Tuesday. The World Bank anticipated 1.8 percent growth in 2021 and 2.1 percent growth in 2022 in the June 2021 edition of the NDU. The World Bank, on the other hand, expects an upbeat assessment of the Nigerian economy in the next edition. According to the new data, the Nigerian economy is recovering faster than projected. “The Nigerian economy has recovered at a faster-than-expected pace in[…]