The World Bank has approved a total of $2.2 billion in new loans for the Federal Government of Nigeria in 2025.According to the World Banks project list, the $2.2 billion will be allocated across six different projects.The global bank has earmarked $500 million for the Community Action for Resilience and Economic Stimulus Programme, which is set for approval on March 17. Also on March 31, the World Bank plans to approve $552 million for the HOPE for Quality Basic Education for All and $800 million for Accelerating Nutrition Results in Nigeria 2.0. Similarly, the bank stated that it will approve $300 million for the Solutions for the Internally Displaced and Host Communities Project on July 15 and another $300 million for the Health Security Program on August 19. It was also noted that another project, Building Resilient Digital Infrastructure for Growth (BRIDGE), will receive $500 million upon approval on September 15.According to the World Bank, the BRIDGE initiative and the Health Security Programme are currently in the concept review stage, indicating that they are still in the early stages of assessment and planning.On November 19, 2024, Nigerias loan exposure from the World Banks International Development Association (IDA) rose to $17.1 billion.According to the IDAs financial statement for September 2024, Nigeria ranked third on the list of the top 10 borrowers.As of December 31, 2024, Nigerias exposure had dropped to $16.8 billion, but the country retained its position as the third-largest debtor to the World Banks IDA. The post World Bank to approve $2.2bn loan for Nigeria in 2025 appeared first on Linda Ikeji Blog.World Bank to approve $2.2bn loan for Nigeria in 2025
The World Bank has approved a total of $2.2 billion in new loans for the Federal Government of Nigeria in 2025.According to the World Banks project list, the $2.2 billion will be allocated across six different projects.The global bank has earmarked $500 million for the Community Action for Resilience and Economic Stimulus Programme, which is set for approval on March 17. Also on March 31, the World Bank plans to approve $552 million for the HOPE for Quality Basic Education for All and $800 million for Accelerating Nutrition Results in Nigeria 2.0. Similarly, the bank stated that it will approve $300 million for the Solutions for the Internally Displaced and Host Communities Project on July 15 and another $300 million for the Health Security Program on August 19. It was also noted that another project, Building Resilient Digital Infrastructure for Growth (BRIDGE), will receive $500 million upon approval on September 15.According to the World Bank, the BRIDGE initiative and the Health Security Programme are currently in the concept review stage, indicating that they are still in the early stages of assessment and planning.On November 19, 2024, Nigerias loan exposure from the World Banks International Development Association (IDA) rose to $17.1 billion.According to the IDAs financial statement for September 2024, Nigeria ranked third on the list of the top 10 borrowers.As of December 31, 2024, Nigerias exposure had dropped to $16.8 billion, but the country retained its position as the third-largest debtor to the World Banks IDA. The post World Bank to approve $2.2bn loan for Nigeria in 2025 appeared first on Linda Ikeji Blog.
