The World Bank has approved a $1.57 billion loan to assist Nigeria in tackling challenges in health, education, and climate change. The loan, which was officially approved on September 26, 2024, aims to strengthen human capital and build resilience against climate-related risks in the country.
A statement released on Monday confirmed that the loan will help improve healthcare for women, children, and adolescents. It also seeks to address the effects of climate change, such as floods and droughts, by focusing on dam safety and irrigation systems.
According to the World Bank, the $1.57 billion loan will be divided into three major projects. One of these projects includes $570 million directed toward the Primary Healthcare Provision Strengthening Programme. This program is designed to enhance primary healthcare services, ensuring better access to medical care, especially for vulnerable groups like women and children.
Another portion of the loan, amounting to $500 million, will focus on governance issues that affect the delivery of education and health services. The project, known as the HOPE-GOV Programme, aims to improve service delivery in these sectors by addressing problems in the government systems and procedures. According to the statement, these sectors are crucial for the development of Nigeria’s human capital.
The statement read, “The World Bank has today approved three operations for a total of $1.57bn to support the Government of Nigeria in strengthening human capital through better health for women, children and adolescents and building resilience to the effects of climate change such as floods and droughts through improving dam safety and irrigation.”
“The HOPE-GOV and HOPE-PHC programmes combined will support the Government of Nigeria to improve service delivery in the basic education and primary healthcare sectors which are critical towards improving Nigeria’s human capital outcomes.
“The SPIN project will support improvement of dams’ safety and management of water resources for hydropower and irrigation in selected areas of Nigeria.
“The HOPE-GOV Programme will support Nigeria to address underlying governance weaknesses in the systems and procedures of government in two key human development sectors,” it noted.
