The World Bank has approved three new loans totaling $1.57 billion to support Nigeria’s development efforts. According to a statement released on Monday, the loans will help strengthen healthcare for women, children, and adolescents, and improve Nigeria’s resilience to climate change.
The funds include $500 million for the Health Sector Renewal Investment Initiative, $570 million for strengthening primary healthcare services, and $500 million for the Sustainable Power and Irrigation Project (SPIN).
The World Bank explained that the loans aim to support better health outcomes, reduce maternal and child mortality, and enhance water management and irrigation to benefit Nigerian farmers. This new financial assistance brings the total World Bank loans to Nigeria, under President Bola Tinubu’s administration, to $6.52 billion.
The Bank’s Country Director for Nigeria, Dr. Ndiamé Diop, highlighted the importance of these investments, stating they will help address the complex challenges faced by Nigerians, especially women and girls, and support the government’s development goals.
0 Comments