The Socio-Economic Rights and Accountability Project (SERAP) on Sunday, implored the World Bank to suspend the $800 million loan being solicited for by the President Muhammadu Buhari’s Government.
This was contained in a letter dated 13 May 2023 and signed by SERAP deputy director Kolawole Oluwadare, which reads: “The World Bank should comply with its own Articles of Agreement in disbursing any loans. The Bank should not sacrifice international standards in the rush to disburse the $800m loan to the government.”
The organisation also urged the World Bank President Mr David Malpass to use his “good offices to suspend any disbursement of the $800m loan to the Federal Government and to request the incoming administration to provide satisfactory explanations for the loan.”
