The World Bank is set to approve fresh loans totalling $632m to Nigeria today (Monday) amid mounting concerns over the country’s rising debt profile
The loans are to support critical areas, including nutrition improvement and quality basic education.
Information obtained from the World Bank’s website on Sunday showed that the two loans expected to be approved today include $80m for the Accelerating Nutrition Results in Nigeria 2.0 project and $552m for the HOPE for Quality Basic Education for All programme.
Both projects are currently in the negotiation stage and are expected to receive final approval later today. These new loans form part of a broader strategy by the World Bank to support Nigeria’s development agenda, focusing on healthcare, education, and community resilience.
The loans are expected to boost the government’s efforts to improve nutrition outcomes and enhance access to quality education for Nigerian children.
Meanwhile, the World Bank had already approved a $500m loan to Nigeria last Friday to support the country’s Community Action for Resilience and Economic Stimulus Programme.
The approval, which took place on March 28, 2025, marked a significant step towards addressing Nigeria’s economic challenges through expanded access to livelihood support, food security services, and grants for poor and vulnerable households and firms.
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What are they doing with all these loan sef