World Bank approves $1.57b in loans for 3 projects in Nigeria

Abuja, Sept. 30, 2024 – The World Bank has approved $1.57 billion in loans for three projects in Nigeria.

A statement by the bank on Monday, said the approval was granted to support human capital development for improvement of health services for women, children and adolescents.

It also said the approved projects would also help build resilience to the effect of climate change such as floods and drought through improving dams safety and irrigation.

The statement reads: “The World Bank has today approved three operations for a total of $1.57bn to support the Government of Nigeria in strengthening human capital through better health for women, children and adolescents and building resilience to the effects of climate change such as floods and droughts through improving dam safety and irrigation.”

The World Bank said the new financing would include $500m for governance issues that constrain the delivery of education and health, $570m to strengthen Primary Healthcare Provision and $500m for the Sustainable Power and Irrigation for Nigeria Project. (GBN)