World Bank to support Nigerian communities with $140m

In from Ali Smart …
The World Bank assisted Community and Social Development Project (CSDP) has hinted of plans to disburse additional $140million (about N30 billion) to 26 states across the federation including the FCT for community driven projects.
The project had disbursed US$ 200 million from 2009 to 2014 in the first phase of the project.
A statement from the World Bank Wednesday said “states to benefit from the additional financing will focus on the most vulnerable households in poor communities in the country, while Anambra, Kaduna and Sokoto States are also set to participate in the additional financing.”
Shedding light on the development, Foluso Okunmadewa, World Bank Task Team Leader for the project, said, “this project will not only help vulnerable people in the short term, including those in conflict-affected areas, but will also help build and rebuild long-lasting partnership between local governments and communities. In addition, it will help integrate communities as well as make smart investments in people for the future.”
The first phase of the World Bank funding of the Community Social Development Project (CSDP) which benefited over 5,600 communities and about 2 million people in 26 states of the federation was fully disbursed by December 2014 .

Read also: World Bank pledges $2.1bn to rebuild ravaged N’East

“The Bank is happy to approve additional funds for this project to scale up the impact on more communities in Nigeria and, particularly, the vulnerable in the society. It is also another step towards helping those affected by conflicts, especially in the North Eastern part of Nigeria,” stressed Indira Konjhodzic, World Bank, Acting Country Director for Nigeria.
The new phase of the Community and Social Development Project (CSDP) will end on December 31, 2017.
The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing loans (called “credits”) and grants.
IDA is one of the largest sources of assistance for the world’s 81 poorest countries, 39 of which are in Africa.
The World Bank believes that “resources from IDA bring positive change for 2.5 billion people living on less than $2 a day.”
Since 1960, IDA has supported development work in 108 countries. Annual commitments have increased steadily and averaged about $15 billion over the last three years, with about 50 percent of commitments going to Africa.”

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