World Bank announces plans to fund 6 Nigerian development projects in 2020

World Bank announces plans to fund 6 Nigerian development projects in 2020

- The World Bank has indicated that it would finance six priority projects in Nigeria

- The plan would ensure that key issues such as immunization of children and construction of roads will be dealt with

- It would also provide a stronger business environment for the private sector

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The World Bank has revealed plans of financing six important projects in Nigeria.

The aim, according to the bank’s president, David Malpass, is to support developmental projects in the country. understands that some of the projects would focus on better service delivery for Nigerians.

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Per Business Insider’s report, they will ensure the immunization of children, construction of good roads in the rural areas and the provision of unique identification for the poorest citizens of the country.

The project would also cover the provision of a stronger business environment for the private sector, expansion of the digital economy with the aim of providing jobs and an increase in private-public sector capacity on governance as well as social and environmental safeguards.

According to Malpass, Nigeria is key to the bank’s mission to eliminate extreme poverty.

In other news, Outrider, a company founded in 2017, has raised $53 million to develop a technology that would make yard trucks autonomous.

This follows a growing trend which shows how driverless technology is transforming the transportation sector.

Outrider is focused on automating vehicular movement in freight hubs to reduce costs as it improves safety.

After securing funds following a series of rounds in order to propel its vision, plans are in place to conduct a pilot test with four Fortune 200 companies.

It would also conduct business with Georgia-Pacific, one of the world’s largest manufacturers and distributors of tissue, pulp, paper, and more. understands that Outrider neither owns nor operates the vehicles itself. It provides a software-as-a-service (SaaS) solution for customer-owned fully and semi-autonomous freight and transportation fleets, as well as a team of technicians, to remotely monitor the progress of those fleets.

Information available shows that the market for driverless trucks is likely to reach 6,700 all over the world after it generated $54.23 billion in 2019.

It also stands to save the logistics and shipping industry an estimated $70 billion every year while boosting productivity by 30%.

READ ALSO: Jeff Bezoz announces a $10 billion fund to deal with climate change

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