Information obtained from the World Bank’s website, has indicated that the apex bank is set to decide on three major loan projects for Nigeria in 2025, totalling $1.65bn.
This is part of the bank’s effort to address critical challenges in the country.
According to Punch, the loans currently in the pipeline, will focus on internally displaced persons, education, and nutrition enhancement.
The loans are designed to support Nigeria’s social and economic recovery, particularly in vulnerable sectors requiring urgent intervention.
The first project, titled Solutions for the Internally Displaced and Host Communities Project, has a commitment amount of $300m and is scheduled for approval on April 8, 2025.
The project, which remains at the concept review stage, seeks to provide sustainable solutions for internally displaced persons and their host communities, addressing their social and economic challenges.
The second project, HOPE for Quality Basic Education for All, is expected to receive $553.8m in financing.
Its approval is slated for March 20, 2025, and it also remains in the concept review phase.
The third project, Accelerating Nutrition Results in Nigeria 2.0, involves the largest share of the proposed loans, with a commitment of $800m.
The World Bank is expected to hold a decision meeting on the project by February 20, 2025.
The $1.65bn financing package reflects the World Bank’s continued commitment to supporting Nigeria’s ongoing reforms.
The World Bank’s schedule indicates that decisions on these loans will be made in early 2025, with Nigeria’s ability to meet project prerequisites and demonstrate accountability in implementation likely to play a key role in getting the funds.
