Nigerian set to Receive Fresh Loan from World Bank

Punch reports that the loan is expected to be approved on September 26, 2024, according to official documents
The aim of the funds is to enhance Nigeria’s economic stability, and will be received via three major development projects, which include the Primary Healthcare Provision Strengthening Programme, which is set to receive $500m.
The second project, Nigeria Human Capital Opportunities for Prosperity and Equity Governance, has proposed funding of $500m, while the Sustainable Power and Irrigation for Nigeria Project will receive the highest funding of $700m
According to the document, these projects have reached the negotiation stage and are expected to be approved on September 26, 2024.
If approved, Nigeria will have secured a total of $3.95bn in loans from the bank this year alone and a cumulative $6.65bn under the administration of President Bola Tinubu.
Recall that President Bola Tinubu had in July requested the approval of the Senate to obtain a loan of $800 million from the World Bank to finance the National Safety Net Programme of the Federal Government.
The document read, “The proposed HOPE-Health provides a Sector-Wide Approach platform, leveraging significant additional resources to support a critical agenda.
“By aligning donor financing with the government’s resources, the proposed operation will foster convergence around a common set of results that are reflective of Nigeria’s disease burden.
“Number of women and children who receive tracer essential health services by community health workers. The number of PHC facilities achieving service readiness assessment criteria. The proportion of deliveries with skilled birth attendants present and the number of empaneled EDGE level 1 CEmONC facilities certified.”

source: all news.ng

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