By Abiola Olawale
The World Bank has announced plans to begin disbursement of a total of $2.2 billion loan for Nigeria in March 2025.
The financial institution made this known in a project list issued on Wednesday.
According to the project list released by the Washington-based financial institution, the loan initiative is part of ongoing efforts to support Nigeria’s economic recovery and development in key areas such as education, health, digital infrastructure, and resilience against economic and environmental challenges.
The loan is expected to be spread across projects like improving basic education, enhancing nutrition, supporting internally displaced communities, advancing digital infrastructure, and bolstering health security, with approvals scheduled throughout 2025.
This follows Nigeria’s history of securing significant financing from the World Bank, including a $2.25 billion loan in 2024 to stabilize its economy and aid vulnerable populations amid reforms.
A breakdown of the list showed that the World Bank earmarked $500 million for the ‘Community Action (for) Resilience and Economic Stimulus Programme,’ which will be approved by March 17.
On March 31, the World Bank plans to approve $552 million for the ‘HOPE for Quality Basic Education for All’ and $800 million for ‘Accelerating Nutrition Results in Nigeria 2.0’.
Also, the World Bank said it will approve $300 million for the ‘Solutions for the Internally Displaced and Host Communities Project’ on July 15 and another $300 million for the ‘Health Security Program’ on August 19.
Another project, ‘Building Resilient Digital Infrastructure for Growth (BRIDGE)’ will receive $500 million after approval on September 15.
