World Bank boosts Nigeria’s poverty reduction with $25m

from The Tide

The World Bank has approved a 25 million dollar International Development Association (IDA) credit to provide additional funding for the Community Based Poverty Reduction Project (CPRP) in Nigeria.

A statement issued by in Abuja said that the credit facility was approved by the bank’s board of directors.

The statement said that the project aimed to improve access for the poor to social and economic services and increase the availability and management of development resources at the community level.

The project will be implemented in eight states namely Abia, Cross Rivers Ekiti, Kogi, Kebbi, Yobe, Kwara, and Ebonyi.

The facility will ensure that about 600 community-based poverty reduction micro-projects that are currently underway are completed.

“The funding will also help maintain the momentum of the community-driven development approach in the country until a nationwide community development project, currently under preparation by the federal government begins.

“The additional funding will continue to support government efforts to empower communities to become agents and beneficiaries of change to improve the lives of their citizens,” said Foluso Okunmadewa, the World Bank Task Team Leader of the project was quoted as saying.

The additional financing will address unmet demands and requests from community groups for micro-projects in virtually all the states currently implementing the CPRP.

The first Community Based Poverty Reduction’ Project (CPRP), using the community driven development approach was approved in 2000 for 60 million dollars.

The supplemental credit is for two years and will close on August. 31,2008, the statement added.