{"id":23674,"date":"2020-07-01T14:02:12","date_gmt":"2020-07-01T13:02:12","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=23674"},"modified":"2020-07-01T14:02:12","modified_gmt":"2020-07-01T13:02:12","slug":"world-bank-loan-will-unlock-economic-growth","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/world-bank-loan-will-unlock-economic-growth\/","title":{"rendered":"World Bank loan will unlock economic growth"},"content":{"rendered":"\n<p><strong>By Tanko Mohammed<\/strong><\/p>\n\n\n<p>A capital market operator, Mr Godwin Anono,&nbsp;&nbsp;says the&nbsp;&nbsp;World Bank loan of $750 million to fix energy challenges in the country will&nbsp;&nbsp;unlock the country\u2019s&nbsp;&nbsp;economic growth.<\/p>\n\n\n<p>Anono, President, Standard Shareholders Association of Nigeria, said in Lagos that enhancing the country\u2019s energy supplies through the loan was crucial for development.<\/p>\n\n\n<p>\u201c Having&nbsp;&nbsp;regular power supplies is the backbone for the nation\u2019s quest for industralisation of its economy.<\/p>\n\n\n<p>\u201c A regular energy supply&nbsp;&nbsp;will enable domestic manufacturers to produce at optimum capacity,\u201d he said.<\/p>\n\n\n<p>Anono said&nbsp;&nbsp;that accessing such loans to resuscitate the energy sector was relevant because of the slow growth being witnessed.<\/p>\n\n\n<p>\u201c The current economic realities caused by the health pandemic has led to decline of government\u2019s revenue, and this may have made the request for the loan almost inevitable&nbsp;&nbsp;for the power sector,\u201d he said.<\/p>\n\n\n<p>The World Bank has ratified a $750 million energy loan to Nigeria.<\/p>\n\n\n<p>The World Bank Country Director for Nigeria, Shubham Chaudhuri, had told reporters on June 24 that the loan given to Nigeria was aimed at solving the electricity problem in the country.<\/p>\n\n\n<p>According to the world bank\u2019s official, the loan will also help to revive the economy, especially the private sector.<\/p>\n\n\n<p>The move will help in lifting 100 million Nigerians out of poverty with investments in the energy sector as well as in the production and service sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Tanko Mohammed A capital market operator, Mr Godwin Anono,&nbsp;&nbsp;says the&nbsp;&nbsp;World Bank loan of $750 million to fix energy challenges in the country will&nbsp;&nbsp;unlock the country\u2019s&nbsp;&nbsp;economic growth. Anono, President, Standard Shareholders Association of Nigeria, said in Lagos that enhancing the country\u2019s energy supplies through the loan was crucial for development. \u201c Having&nbsp;&nbsp;regular power supplies is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14582,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[125],"tags":[],"class_list":["post-23674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-money","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>World Bank loan will unlock economic growth - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/world-bank-loan-will-unlock-economic-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank loan will unlock economic growth - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"By Tanko Mohammed A capital market operator, Mr Godwin Anono,&nbsp;&nbsp;says the&nbsp;&nbsp;World Bank loan of $750 million to fix energy challenges in the country will&nbsp;&nbsp;unlock the country\u2019s&nbsp;&nbsp;economic growth. 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