Data from the World Bank website has revealed that the institution committed a total of $7.93bn in the 2022 fiscal year, which was from July 2021 to June 2022.
The data further showed that this was an increase of 74.67 per cent from the $4.54bn recorded in the 2021 fiscal year, which began in July 2020 and ended in June 2021.
According to the World Bank, commitments covered the total amount of loans for which contracts were signed in the year specified.
The data ran from 2018 to 2022, covering both loans from the World Bank’s International Development Association and the International Bank for Reconstruction and Development.
Between 2018 and 2022, a total of $38.2bn was committed to Nigeria by the World Bank.Within this period, the highest commitment of $10.45bn was in 2018.
