Nigeria To Get Fresh $1.57bn Support Fund From World Bank – The News Chronicle

The World Bank has given the approval for a total of $1.57bn to enable Nigeria strengthen human capital through better health for women, children, and adolescents and preventing the impacts of climate change by improving dam safety and irrigation.

The new fund includes $500m for addressing governance issues that hinders the delivery of education and health (HOPE-GOV), $570m for the Primary Healthcare Provision Strengthening Program (HOPE-PHC) and $500m for the Sustainable Power and Irrigation for Nigeria Project (SPIN).

Meanwhile, in support of Federal Government’s newly launched reforms in the health sector, the World Bank said under the Health Sector Renewal Investment Initiative, the HOPE-PHC project will improve the quality and utilisation of core reproductive, maternal, newborn, child, and adolescent health and nutrition services to significantly cut down maternal and under-five mortality and to improve the resilience of the health system— benefiting 40 million people, especially vulnerable populations.

The project is financed by a concessional $500m International Development Association (IDA) credit and an additional $70m in grant financing from the Global Financing Facility for Women, Children and Adolescents (GFF).

Diop stated further; “Effective investment in the health and education of Nigerians today is central to increasing their future employment opportunities, productivity, and earnings while reducing poverty of the most vulnerable.

This new financing for human capital and primary healthcare will help to address the complex difficulties faced by Nigerians, especially women and girls around access and quality of services, but also the governance arrangements that also explain these difficulties” said Dr. Ndiamé Diop, the World Bank Country Director for Nigeria.

“The SPIN program is timely and will protect Nigerians from floods and droughts in the areas where it will be implemented while enabling an increase in hydropower generation.

The direct positive impact of this project on people and livelihoods is enormous, The World Bank is pleased to work with the government and other stakeholders to deliver this program”.

_{Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.}