Nigerian Government Awaits $1.65 Billion Loan Approval from World Bank in 2025
The Nigerian government is optimistic about securing a $1.65 billion loan from the World Bank in 2025, PulseNets has learned from a publication on the bank’s official website.
According to the document, the World Bank is set to deliberate on three critical projects proposed by Nigeria, which aim to address key developmental challenges in the country.
For the first initiative, titled Solutions for the Internally Displaced and Host Communities Project, a proposed commitment of $300 million is under consideration. This project is expected to receive a decision on April 8, 2025. The government told PulseNets that the funds would primarily focus on improving education and nutrition for Internally Displaced Persons (IDPs) nationwide.
Another project, HOPE for Quality Basic Education for All, has a proposed funding of $553.8 million. PulseNets learnt that this project will come up for approval on March 20, 2025, and seeks to enhance access to quality education for Nigerian children.
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The third initiative, Accelerating Nutrition Results in Nigeria 2.0, is the most significant in terms of funding, with $800 million proposed for financing. This project is scheduled for a decision on February 20, 2025, and aims to tackle the country’s lingering nutrition challenges.
PulseNets understands that the World Bank’s board will hold a crucial meeting on February 20, 2025, to assess these proposals and determine the subsequent approval processes.
