World Bank Approves $1.57 Billion for Nigeria’s Development

The World Bank has granted Nigeria $1.57 billion to support human capital development and climate resilience.

The funding will address governance issues in education and healthcare through HOPE-GOV ($500 million), enhancing transparency, accountability, and workforce recruitment.

HOPE-PHC ($570 million) will improve primary healthcare services, focusing on reproductive, maternal, newborn, child, and adolescent health, benefiting 40 million vulnerable individuals.

The SPIN operation ($500 million) will enhance dam safety, irrigation, and hydropower, protecting citizens from floods and droughts and supporting 950,000 people through improved agricultural productivity.

Dr. Ndiamé Diop, World Bank Country Director for Nigeria, stressed that investing in health and education is crucial for increasing employment, productivity, and earnings while reducing poverty.

This funding demonstrates the World Bank’s commitment to supporting Nigeria’s development priorities.