Nigeria has obtained three new loans from the World Bank, amounting to $1.57 billion, aimed at boosting healthcare, education, and climate resilience.
The funding will prioritize improving services for women, children, and adolescents, while also tackling climate-related issues like floods and droughts.
A statement released on Monday says, “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 financing package comprises $500 million to tackle governance challenges impacting education and healthcare delivery, $570 million for the Primary Healthcare Provision Strengthening Programme, and $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN).
The statement continues, “The HOPE-GOV and HOPE-PHC programmes combined will support the Government of Nigeria to improve service delivery in the basic education and primary healthcare sectors which are critical towards improving Nigeria’s human capital outcomes.
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“The SPIN project will support improvement of dams’ safety and management of water resources for hydropower and irrigation in selected areas of Nigeria.”
In addition, the HOPE-GOV program will concentrate on implementing governance reforms.
The approval was granted on September 26, 2024.
(Saharareporters)
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