The World Bank has approved a total of $1.08 billion to support education, nutrition, and economic growth in Nigeria.
A statement on the bank website disclosed that the concessional loans are aimed at improving the quality of education, building household and community resilience, and enhancing nutrition for underserved groups.
The approved operations include $500million in additional financing for the Community Action for Resilience and Economic Stimulus Programme, $80million for Accelerating Nutrition Results in Nigeria (ANRIN 2.0), and $500million for the Hope for Quality Basic Education for All (HOPE-EDU) initiative.
The statement added that the new financing will bolster the programme’s reach, particularly as the country grapples with economic challenges arising from the 2023 fuel subsidy removal and foreign exchange rate unification.
