World Bank to Approve $2.2 Billion Loan for Nigeria in 2025, Targeting Six Key Development Projects
The World Bank is preparing to approve a $2.2 billion loan for Nigeria in 2025, aimed at funding six major development projects across sectors like education, health, digital infrastructure, and economic resilience.
According to the Washington-based financial institution, the breakdown of the proposed funding is as follows:
- $500 million – Community Action for Resilience and Economic Stimulus Programme (Approval: March 17)
- $552 million – HOPE for Quality Basic Education for All (Approval: March 31)
- $800 million – Accelerating Nutrition Results in Nigeria 2.0 (Approval: March 31)
- $300 million – Solutions for Internally Displaced and Host Communities Project (Approval: July 15)
- $300 million – Health Security Program (Approval: August 19)
- $500 million – Building Resilient Digital Infrastructure for Growth (BRIDGE) (Approval: September 15)
Among these projects, the BRIDGE initiative and the Health Security Program remain in the concept review stage, undergoing initial assessment and planning. Meanwhile, the Accelerating Nutrition Results in Nigeria 2.0 and HOPE for Quality Basic Education for All projects have progressed to the negotiation stage.
This upcoming funding follows Nigeria’s $1.5 billion loan from the World Bank in 2024, which was directed toward economic stability and resource mobilization efforts.
As of September 30, 2024, Nigeria’s loan exposure to the International Development Association (IDA) stood at $17.1 billion, ranking it the third-largest borrower. By December 31, 2024, this slightly dropped to $16.8 billion, but Nigeria retained its third-place position on the World Bank’s top debtors list.
Once approved, these loans are expected to boost Nigeria’s economic recovery and development efforts, strengthening critical sectors and improving the well-being of its citizens.
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