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Home >> World
UPDATED: 08:41, August 25, 2005
World Bank releases fund for poverty reduction scheme in Nigeria
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The World Bank has released 2.5 million US dollars to support a community-based poverty reduction project in Nigeria's southern state of Ebonyi, local media reported on Wednesday.

Hafez Ghanem, World Bank country director for Nigeria, was quoted as saying that the World Bank is determined to fight poverty and it is offering support to a willing partner to fight poverty.

The World Bank "is encouraged by the level of preparedness, enthusiasm and commitment of Ebonyi state in poverty reduction campaign," he said, adding that the bank has been enjoying good relationship with the state.

According to Ghanem, the bank is also supporting two other programs in the state's Health System Fund and state action committee on HIV/AIDS.

"If the state judiciously utilized the money given to them by the bank, it will be qualified to join the second phase of the program," he assured.

The second phase of the program is scheduled to start in July 2006.

Ghanem said the bank had expended about 50 million dollars in the poverty-reduction project in Nigeria, adding that over 75 percent of the money were managed by community groups to build schools, health clinics, rural roads, rural electrification and markets among others.

Source: Xinhua


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