The World Bank announced on its website that in 2025, it will embark on 3 loan projects in Nigeria totaling $1.65bn, with a focus on internally displaced persons, education, and nutrition enhancement.
The first loan project, which is scheduled to be approved on April 8, 2025, will focus on providing solutions for the internally displaced and host communities. The loan project’s value is $300 million.
The second project, which is scheduled to be approved on March 20, 2025, will look at HOPE for Quality Basic Education for All. The project value is estimated at $553.8 million in financing.
The third project, which is the earliest for approval on February 20, 2025, will focus on Accelerating Nutrition Results in Nigeria 2.0. This project is the biggest of the three projects and will receive funding of $800 million.
These loan projects are in concept review phases, and the World Bank will be making a decision on them by 2025.
Nigeria currently sits on a loan portfolio from the World Bank worth $6.95 billion, with the last loan of $500 approved for Nigeria earlier in December for the Rural Access and Agricultural Marketing Project (RAAMP).
In under 18 months of President Bola Tinubu’s administration, the World Bank has approved 10 different loans for different projects and purposes in Nigeria.
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