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Showing posts with the label AfDB approves new 5-year strategy for Nigeria amidst COVID-19 concerns

AfDB approves new 5-year strategy for Nigeria amidst COVID-19 concerns

African Development Bank (AfDB) The Board of Directors of the African Development Bank (AfDB) has approved Nigeria’s Country Strategy Paper (CSP) 2020-2024, which builds on the successes and challenges of the 2013-2019 edition. The bank’s Communications and External Relations Department in a statement on Friday said the strategy was approved on May 27. It stated that the approval also incorporated emerging developmental realities and opportunities shaping Nigeria’s political and economic landscape, including the post-COVID-19 period. The statement quoted Mr. Ebrima Faal, Senior Director for AfDB in Nigeria, as re-affirming the institution’s support for Nigeria’s socio-economic advancement. “In the implementation of the CSP, the Bank will also support Nigeria to address economic shocks associated with the COVID-19 pandemic and oil price shocks. “We will do this by focusing our interventions in sectors that will strengthen public health infrastructure and accelerate efforts towar