News
World Bank approves fresh $1.57 billion support fund for Nigeria
The World Bank has approved three new loan requests totalling $1.57 billion loan to the Nigerian government.
In a statement on Monday morning, September 30, the Washington-based bank disclosed that the new funding will support Nigeria in addressing governance challenges in education and healthcare, improving primary healthcare services, and increasing resilience to climate change through enhanced dam safety and irrigation infrastructure.
ALSO READ: Nigeria ranks third in West Africa for Agricultural performance review
According to the World Bank, the approval of the loan was made last week on September 26, 2024. This financing package, including a $1.5 billion loan and a $70 million grant, is part of broader efforts to improve key sectors such as education, healthcare, and water management, while also tackling poverty and boosting productivity.
The development had further increased the country’s debt burden which stood at N121.67 trillion as of March 2024 according to the Debt Management Office.
-
Featured6 days agoInside INEC’s race to prepare for Nigeria’s 2027 elections
-
Latest7 days agoGlobal excitement builds as Healing Streams Live Services returns October 23
-
Featured6 days ago2027: APC unveils nationwide campaign timetable, Tinubu to rally in 12 states
-
Business7 days agoPresident Tinubu and the Low Transport Fares Fiasco
-
Business1 week agoBREAKING: Nigeria’s Inflation Rate Drops to 14.63% in September
-
Business3 days agoNaira faces exchange rate gap as Dollar hits N1,380 on parallel market
-
Business6 days agoCourt dismisses ₦170m Trade Fair contract claim, says Zenith Bank was not a party
-
Latest6 days agoBreaking: NNPCL raises petrol price to ₦1,405 per litre amid discount controversy