The federal government of Nigeria is anticipated to secure new loans from the World Bank amounting to $2.2 billion in 2025.
As outlined in the project list from the Washington-based financial institution, this funding will be allocated across six distinct projects.
The World Bank has designated $500 million for the ‘Community Action (for) Resilience and Economic Stimulus Programme,’ which is set for approval by March 17.
On March 31, the World Bank intends to authorize $552 million for the ‘HOPE for Quality Basic Education for All’ initiative and $800 million for ‘Accelerating Nutrition Results in Nigeria 2.0.’
Additionally, the World Bank plans to 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.
TheCable has also noted that the project ‘Building Resilient Digital Infrastructure for Growth (BRIDGE)’ is expected to receive $500 million after its approval on September 15.
The World Bank indicated that both the BRIDGE initiative and the Health Security Programme are currently in the concept review phase, suggesting they are still undergoing initial assessment and planning.
Furthermore, the projects ‘Accelerating Nutrition Results in Nigeria 2.0’ and ‘HOPE for Quality Basic Education’ have advanced to the negotiation stage.
In 2024, the multilateral lender provided Nigeria with $1.5 billion for several key development projects aimed at enhancing the country’s capacity to mobilize resources and sustain economic stability.
On November 19, 2024, reports revealed that Nigeria’s loan exposure from the World Bank’s International Development Association (IDA) had increased to $17.1 billion as of September 30, 2024.
According to the IDA’s financial statement for September 2024, Nigeria ranked third on the latest list of the top ten borrowers.
By December 31, 2024, Nigeria’s exposure decreased to $16.8 billion, yet it maintained its status as the third-largest debtor to the World Bank’s IDA.
