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Nigeria, W.Bank sign 200 million dollars accord
Abuja, Aug 1, 2006 The World Bank and Nigeria have signed a 200 dollar loan agreement for a project to improve the dilapidated environment in Lagos, the country's most populated city with around 15 million inhabitants, officials said on Tuesday. The credit facility is part of the bank's efforts to improve the quality of lives of the poor in the sprawling city. The accord was signed on Monday here between the International Development Association (IDA), a World Bank affiliate, and the federal government of Nigeria, on behalf of Lagos. Signing the agreement, Finance Minister Nenadi Usman said that the government was committed to "improving and uplifting the lives of the common man in Lagos". The impact of the Lagos Metropolitan Development and Governance Project is expected to be manifested in provision of safe water and tackling flooding and garbage, she said. The new accord brings the IDA's total credit to Lagos State since the return of civil rule in 1999 to 478 million dollars, making the state the biggest beneficiary of World Bank credits in Nigeria, she added. Nigeria has 36 states beside the Federal Capital Territory, Abuja. IDA credits are interest-free. The World Bank country director, Hafez Ghanem, said that the credit was aimed at poverty reduction in Lagos. Community Email This Article Comment On This Article Related Links Dirt, rocks and all the stuff we stand on firmly
New York declares emergency as heat wave bakes East Coast
New York, Aug 1, 2006 A heat wave that claimed more than 130 lives in California reached the US east coast Tuesday, settling over the US capital and forcing New York City to declare a state of emergency for the first time. |
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