The World Bank has confirmed its approval of $2.2 billion in new loans for the Nigerian Federal Government in 2025.
As outlined in the World Bank’s project list, this funding will be distributed across six distinct initiatives.
Among the allocations, $500 million is designated for the ‘Community Action for Resilience and Economic Stimulus Programme,’ which is scheduled for approval on March 17.
Furthermore, on March 31, the World Bank intends to approve $552 million for the ‘HOPE for Quality Basic Education for All’ initiative and $800 million for the ‘Accelerating Nutrition Results in Nigeria 2.0’ program.
In addition, the Washington-based institution 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.
It was also highlighted that the project titled ‘Building Resilient Digital Infrastructure for Growth (BRIDGE)’ is set to receive $500 million pending approval on September 15.
The World Bank has indicated that both the BRIDGE initiative and the Health Security Programme are currently undergoing the concept review phase, suggesting they are still in the initial stages of evaluation and planning.
In the meantime, the projects ‘Accelerating Nutrition Results in Nigeria 2.0’ and ‘HOPE for Quality Basic Education’ have advanced to the negotiation phase.
In 2024, the multilateral lender allocated $1.5 billion to Nigeria for various critical development initiatives aimed at enhancing the country’s resource mobilization and economic stability.
As of November 19, 2024, Nigeria’s loan exposure from the World Bank’s International Development Association (IDA) increased to $17.1 billion.
According to the IDA’s financial report for September 2024, Nigeria was ranked third among the top 10 borrowers.
By December 31, 2024, Nigeria’s debt had decreased to $16.8 billion, yet the nation remained the third-largest borrower from the World Bank’s IDA.
