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The Nigerian government is seeking a $1.65 billion loan from the World Bank to fund three critical development projects in 2025.
According to information published on the bank’s official website, the projects aim to address the challenges faced by internally displaced persons (IDPs) in the areas of education, nutrition, and health.
The first project, titled Solutions for the Internally Displaced and Host Communities Project, has a proposed funding of $300 million. It is scheduled for approval on April 8, 2025.
The initiative is designed to address the pressing issues of education and nutrition among internally displaced persons across the country.
“The loan will provide much-needed support to IDPs, improving access to education and addressing nutritional deficiencies,” the government stated.
The second proposal, HOPE for Quality Basic Education for All, seeks a $553.8 million commitment with an anticipated approval date of March 20, 2025.
The project targets enhancing access to quality education, particularly for underserved communities.
The largest of the three proposals is the Accelerating Nutrition Results in Nigeria 2.0 project, which carries a $800 million financing request. The World Bank is expected to deliberate on this project’s approval on February 20, 2025.
“This financing will strengthen Nigeria’s nutritional outcomes, especially for vulnerable populations,” the government explained, emphasising its importance in addressing malnutrition nationwide.
The World Bank will hold crucial meetings to decide on each project, with the first decision expected in February 2025. If approved, the loans are expected to alleviate Nigeria’s developmental challenges and support long-term growth.