World bank approves $2.2bn fresh loans for Nigeria

The federal government is expected to receive fresh loans from the World Bank, totalling $2.2 billion in 2025.

According to the Washington-based financial institution’s project list, the $2.2 billion will cut across six different projects.

World Bank earmarked $500 million for the ‘Community Action (for) Resilience and Economic Stimulus Programme,’ which will be approved by March 17.

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On March 31, the World Bank plans to approve $552 million for the ‘HOPE for Quality Basic Education for All’ and $800 million for ‘Accelerating Nutrition Results in Nigeria 2.0’.

Also, the World Bank said it will approve $300 million for the ‘Solutions for the Internally Displaced and Host Communities Project’ on July 15 and another $300 million for the ‘Health Security Program’ on August 19.

Also, it added that another project, ‘Building Resilient Digital Infrastructure for Growth (BRIDGE)’ will receive $500 million after approval on September 15.

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