The World Bank has outlined plans to provide Nigeria with a fresh $2.2 billion loan in 2025, with the funds earmarked for six development projects spanning economic recovery, education, health, and digital infrastructure.
According to the Washington-based institution’s project list, the first tranche of $500 million is designated for the ‘Community Action for Resilience and Economic Stimulus Programme’ and is expected to be approved by 17 March.
On 31 March, another $552 million will be allocated to the ‘HOPE for Quality Basic Education for All’ initiative, alongside $800 million for the ‘Accelerating Nutrition Results in Nigeria 2.0’ programme.
Further disbursements include $300 million for the ‘Solutions for the Internally Displaced and Host Communities Project’ on 15 July and another $300 million for the ‘Health Security Programme’ on 19 August.
Additionally, the ‘Building Resilient Digital Infrastructure for Growth (BRIDGE)’ project is expected to receive $500 million upon approval on 15 September.
The World Bank noted that the BRIDGE initiative and the Health Security Programme are still in the concept review phase, while the Accelerating Nutrition Results and Education projects have advanced to the negotiation stage.
This latest loan follows the $1.5 billion granted to Nigeria in 2024 for various economic and social initiatives.
However, Nigeria’s rising debt profile remains a concern, with the country ranked as the third-largest borrower from the World Bank’s International Development Association (IDA).
As of 30 September 2024, Nigeria’s loan exposure to the IDA stood at $17.1 billion but later dropped to $16.8 billion by 31 December 2024. Despite the slight decline, Nigeria still maintains its position as one of the largest debtors to the global lender.
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