Just In : Nigerian Government eyes $4.4bn new loans as debt hits N101tn
Findings showed that on June 9, 2023, the World Bank board approved a loan of $750m to boost Nigeria’s power sector. The bank said the loan would serve as additional financing for the power sector recovery performance-based operation.
It also announced the approval of a loan of $500m on June 27, 2023to help Nigeria drive women’s empowerment. This was the second loan approved by the bank under the current administration. It provided a scale-up financing for the Nigeria for Women Programme.
In September 2023, the World Bank approved a loan of $700m to bolster educational opportunities and empowerment for adolescent girls in Nigeria.
The loan was to support the ongoing ‘Adolescent Girls Initiative for Learning and Empowerment project. It aimed to encourage secondary education accessibility for girls residing in specific target states within Nigeria.
