The World Bank may approve a total of $1.13bn in loans for Nigeria before the end of March 2025 as part of ongoing efforts to support the country’s economic resilience, health security, and education reforms.
According to information published on the World Bank’s website, three key projects for Nigeria are at the stage of negotiation, with approval dates set for this month.
Among the projects set for negotiation is the Accelerating Nutrition Results in Nigeria 2.0 programme, valued at $80m, which is expected to be approved by March 31, 2025.
This initiative is aimed at improving nutrition outcomes, particularly among vulnerable groups, by enhancing access to essential dietary support and reducing malnutrition rates.
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Another project in the negotiation phase is the Community Action for Resilience and Economic Stimulus Programme, which has a commitment value of $500m and is expected to be approved by March 24, 2025.
The project is designed to provide economic stimulus for community-driven initiatives to strengthen economic resilience and growth.
The HOPE for Quality Basic Education for All programme, with a proposed funding of $552.2m, is also at the negotiation stage and is expected to secure approval by March 31, 2025.
This initiative seeks to improve the quality of basic education by addressing infrastructure deficits, enhancing teacher training, and increasing educational accessibility across the country.
The potential approval of these loans comes at a time when Nigeria continues to grapple with economic challenges, including foreign exchange liquidity constraints, fiscal deficits, and mounting debt servicing obligations.
