THE World Bank has approved a $250million fund for developmental projects in Ogun State.

The credit facility is expected to help the Ogun State Economic Transformation Project improve private investment in the state by enhancing the business environment, strengthening the linkages between agricultural producers, suppliers and service providers, and providing training and apprenticeships for women and farmers.

In a statement yesterday by the Special Adviser on Public Communications, Remmy Hazzan, the state government said the World Bank approval was the outcome of interactions between Governor Dapo Abiodun and officials of the bank, during which the governor discussed its economic blueprint and development roadmap for the state.

Ogun is one of the six states approved by the world financial institution to support development priorities in the country, including improving immunisation, enabling a stronger business environment for the private sector, expanding the digital economy to promote job creation and increasing public and private sector capacity on governance and social and environmental safeguards.

“Nigeria is central to the World Bank group’s mission of tackling extreme poverty. The World Bank is carefully targeting its support on high impact projects as the country works to tackle corruption and lift 100 million of its people out of poverty,” said David Malpass, World Bank group president.

The World Bank project will also facilitate collaboration between farmers and agribusinesses, improve STEM teaching in up to 70 per cent of public secondary schools.

Among other steps taken to demonstrate commitment, Governor Abiodun provided offices for the World Bank on the governor’s floor after he was sworn in, to underscore the premium placed on the partnership between the state government and the World Bank.
The governor expressed gratitude to the World Bank for the confidence reposed in his administration, even as he promised to ensure efficient utilisation of the fund.