The World Bank has approved a total of $2.2 billion in new loans for the Federal Government of Nigeria in 2025.
According to the World Bank’s project list, the $2.2 billion will be distributed across six different projects.
The global institution has allocated $500 million for the ‘Community Action for Resilience and Economic Stimulus Programme,’ which is set for approval on March 17.
On March 31, the World Bank plans to approve $552 million for the ‘HOPE for Quality Basic Education for All’ project and $800 million for the ‘Accelerating Nutrition Results in Nigeria 2.0’ initiative.
Additionally, the bank will approve $300 million for the ‘Solutions for the Internally Displaced and Host Communities Project’ on July 15, followed by another $300 million for the ‘Health Security Program’ on August 19.
Another project, ‘Building Resilient Digital Infrastructure for Growth (BRIDGE),’ will receive $500 million upon approval on September 15.
The World Bank noted that the BRIDGE initiative and the Health Security Programme are still in the concept review stage, indicating that they are in the early phases of assessment and planning.
As of November 19, 2024, Nigeria’s loan exposure from the World Bank’s International Development Association (IDA) had risen to $17.1 billion. According to the IDA’s financial statement for September 2024, Nigeria ranked third among the top 10 borrowers.
By December 31, 2024, Nigeria’s exposure had decreased to $16.8 billion, but the country retained its position as the third-largest debtor to the World Bank’s IDA.
