World Bank Approves $1.08 Billion Loan to Support Nigeria’s Education, Nutrition, and Economic Recovery
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The World Bank has greenlit $1.08 billion in concessional financing to bolster Nigeria’s efforts to improve education, nutrition, and economic resilience, particularly for vulnerable populations. The funding, split across three initiatives, targets critical gaps in social services and aims to cushion the impacts of recent economic reforms. A $500 million top-up to Nigeria’s Community Action for Resilience and Economic Stimulus (NG-CARES) Programme will expand support for households grappling with the fallout of the 2023 fuel subsidy removal and foreign exchange reforms. Originally launched to counter COVID-19 disruptions, NG-CARES has already reached over 15 million people with livelihood grants, food security aid, and small-business assistance. The additional funding will sustain social transfers, public works projects, and grants to help communities navigate ongoing economic pressures. According to lindaikejisblog, separate $80 million allocation will fuel the Accelerating Nutrition Results in Nigeria (ANRIN 2.0) project, which focuses on improving maternal and child nutrition. The initiative targets pregnant women, lactating mothers, adolescent girls, and children under five, aiming to scale access to essential nutrition services, fortified foods, and education on feeding practices. Building on its earlier phase—which reached 13 million children between 2018 and 2024—the program aligns with Nigeria’s national development goals to reduce malnutrition and strengthen health systems. The third tranche, a 500 million investment in the Hope for Quality Basic Education for All (HOPE−EDU) project, seeks to overhaul Nigeria’s basic education system. The initiative will prioritize foundational literacy and numeracy, expand access to quality schooling, and modernize education management. Related Posts Market offers rent-now, pay-later answer to tenants. Prospective renters in Nigeria can now breathe a sigh of relief as a rental solution that simplifies renting and facilitates Read more Rwanda retreat: Nigerian governments discuss complex issues. The Nigerian governors will attend and participate in a three-day leadership retreat in Kigali, Rwanda, designed to provide a platform Read more Shaibu: I support Obaseki and seek governorship. Philip Shaibu, the deputy governor of Edo State, has pledged to remain loyal to Edo State’s governor, Godwin Obaseki, despite Read more Citigroup expects more foreign investment in Nigeria and others despite FX turmoil. Citigroup Inc. has stated that Nigeria, Angola, and Kenya are among the African nations that are anticipated to attract more Read more Olawale Moses OyewoleOlawale Moses Oyewole is an adept writer who stays on top of current events and curate informative and engaging articles for his readers. He is a digital strategist who help brands gain online visibility.