According to a statement released on Monday, the World Bank has approved three loan requests totaling $1.57 billion in financing for Nigeria.
This approval is to support the Federal Government in strengthening human capital through better health for women, children, and adolescents.
“The World Bank has today approved three operations for a total of $1.57 billion 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 statement read.
The international lender stated that this new financing includes $500 million for addressing governance issues that constrain the delivery of education and health, $570 million for the Primary Healthcare Provision Strengthening Programme, and $500 million for the Sustainable Power and Irrigation for Nigeria Project.
“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,” the statement explained.
“The SPIN project will support the improvement of dams’ safety and management of water resources for hydropower and irrigation in selected areas of Nigeria.” Additionally, “The HOPE-GOV Programme will support Nigeria in addressing underlying governance weaknesses in the systems and procedures of government in two key human development sectors.”
