Boko Haram: World Bank to Spend $2.1 billion to Rebuild Northeast Nigeria

Nigeria – The Nigerian government said on Tuesday that the World Bank had promised to spend up to $2.1 billion to rebuild the Northeast of the country that has been devastated by the jihadist group.

The Islamist group Boko Haram has been killing millions of the people for the last six years in Nigeria with the aim of cutting out a caliphate in the northeast part of the country.

According to Reuter, the announcement came after President Muhammadu Buhari met with representatives of the World Bank Nigeria, the Bill and Melinda Gates Foundation, and the World Health Organization during his visit to Washington, U.S.A. Although, a representative for the World Bank couldn’t immediately comment on this.

“Apart from rebuilding the region in terms of infrastructure, priority must also be given to the resettlement of internally displaced persons, who now number over one million,” Buhari was quoted as saying in the statement sent by a spokesman”.

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The loan would be spent through the World Bank’s International Development Agency and would be interest free for the first 10 years while an additional 30 years will be at lower than capital market rate.

President Muhammadu Buhari also appealed to the current World Bank President to send a team to work with the Federal Government in executing the proper assessment of people in the Northeast zone.

“The World Bank will spend the 2.1 billion dollars through its (International Development Agency), which gives low interest rates loans to government,” according to President Buhari’s speech from Washington on Wednesday.

The statement said the World Health Organization would spend $300 million on immunization against malaria in Africa, while the Bill and Melinda Gates Foundation would collaborate with Nigeria’s Dangote Foundation to maintain the record of zero polio cases for the past years.

Mr. Buhari is currently in the U.S. on a four-day official visit where he discussed how to handle the insurgency in his first visit to Washington since his election in March.

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