The World Bank Group has rated Nigeria among the world’s extremely poor countries, promising to assist in ending what it called ‘extreme poverty’ in the nations.
Other countries that were also rated as extremely poor are India, China, Bangladesh, DR Congo, Indonesia, Pakistan, Tanzania, Ethiopia and Kenya.
At the Council on Foreign Relations (CFR) in Washington last week, in advance of the World Bank/IMF Spring Meetings, World Bank President, Dr Jim Yong Kim, stated that the global bank would deal with the extreme poverty in Nigeria and its counterparts in the coming years.
Dr Kim stressed that the World Bank Group would focus on Nigeria and other nine countries, but emphasised that the plan would not make other countries in the world to be ignored.
He said: “The fact is that two-thirds of the world’s extreme poor are concentrated in just five countries: India, China, Nigeria, Bangladesh, and the Democratic Republic of Congo. If you add another five countries, Indonesia, Pakistan, Tanzania, Ethiopia, and Kenya, the total grows to 80 per cent of the extreme poor.”