Nigeria has obtained three new loans from the World Bank totaling $1.57 billion to improve healthcare, education, and climate resilience. The funds will specifically target better services for women, children, and adolescents, while also tackling climate challenges like floods and droughts.
In a statement released on Monday, the World Bank outlined the approval of these operations, aimed at bolstering Nigeria’s human capital and addressing climate-related issues through improved dam safety and irrigation. The financing package includes $500 million for governance improvements in education and healthcare delivery, $570 million for the Primary Healthcare Provision Strengthening Programme, and $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN).
The combined HOPE-GOV and HOPE-PHC programmes are expected to enhance service delivery in the education and healthcare sectors, which are seen as essential for advancing Nigeria’s human capital outcomes. Additionally, the SPIN project will focus on improving dam safety and managing water resources for hydropower and irrigation.
The World Bank’s approval for the loans was made on September 26, 2024, marking a significant step in supporting Nigeria’s development goals across key sectors.