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The World Bank may approve $1.13 billion in loans for Nigeria by the end of March 2025 to support economic resilience, health security, and education reforms.
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Three key projects are at the negotiation stage, including the Accelerating Nutrition Results in Nigeria 2.0 programme.
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The potential loan approvals come as Nigeria faces economic challenges, including foreign exchange liquidity constraints.
The World Bank may approve a total of $1.13 billion 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.
This was revealed in information published on the World Bank’s website, which indicated that 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 $80 million, which is expected to be approved by March 31, 2025.
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This initiative aims to improve nutrition outcomes, particularly among vulnerable groups, by enhancing access to essential dietary support and reducing malnutrition rates.
Another project in the negotiation phase is the Community Action for Resilience and Economic Stimulus Programme, which has a commitment value of $500 million 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 $552.2 million, is also at the negotiation stage and is expected to secure approval by March 31, 2025.
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This initiative seeks to improve the quality of basic education by addressing infrastructure deficits, enhancing teacher training, and increasing educational accessibility across the country.
According to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, “We are at that optimisation stage, where there is less focus on borrowing, particularly from the commercial markets, which is quite high. We are focusing more on optimising assets and attracting private sector investment, whether domestic or foreign.”
World Bank Approves $2.2 Billion Loan for Nigeria in 2025
The World Bank has approved a total of $2.2 billion in new loans for the Federal Government of Nigeria in 2025. According to the World Bank’s project list, the $2.2 billion will be allocated across six different projects.
The projects include the ‘Community Action for Resilience and Economic Stimulus Programme,’ which is set for approval on March 17 with a $500 million allocation.
