Nigeria is set to receive three loan projects worth a total $1.5 billion from the World Bank this week.
Information from the World Bank website indicates that the expected approval date for these projects is September 26, 2024.
The loans are to support Nigeria’s ongoing development efforts in healthcare, governance, and infrastructure, with each of these projects billed to receive $500 million, bringing the total to $1.5 billion.
The projects include the Nigeria Primary Healthcare Provision Strengthening Program, the Nigeria Human Capital Opportunities for Prosperity and Equity (HOPE) Governance project, and the Sustainable Power and Irrigation for Nigeria project.
The $500 million Nigeria Human Capital Opportunities for Prosperity and Equity (HOPE) had an initial estimated approval date of September 17, 2024. However, the date has been moved to September 26, 2024. The HOPE project will focus on enhancing human capital by improving education, health, and social protection services.
Another $500 million is earmarked for the Nigeria: Primary Healthcare Provision Strengthening Program, which had an initial estimated approval date of September 23, 2024, but has been moved to September 26. This programme aims to fortify Nigeria’s primary healthcare system by enhancing healthcare infrastructure, training healthcare professionals, and improving service delivery.
The third project, Sustainable Power and Irrigation for Nigeria (SPIN) Project will also receive $500 million and is scheduled for approval on September 26, 2024. This project focuses on sustainable power generation and irrigation, both of which are essential for agricultural and industrial development.
