World Bank approves fresh $700m loan for Nigeria
The World Bank has approved a fresh $700m loan for Nigeria to enhance adolescent girls’ learning and empowerment.
It disclosed this in a statement published on its website on Friday.
The new loan is to provide additional funds for an ongoing project known as the Adolescent Girls Initiative for Learning and Empowerment.
The statement read, “The World Bank approved additional financing of $700m for Nigeria to scale up the Adolescent Girls Initiative for Learning and Empowerment programme whose goal is to improve secondary education opportunities among girls in targeted states.
“The additional financing will scale up project activities from the current seven states to eleven additional states and increase the targeted beneficiaries to include out-of-school girls, those who are married, and those who have disabilities.”
It was noted that Nigeria had over 12 million to 15 million out of school children in the school- age group, with many of them in Northern Nigeria.
It was also noted that an estimated one million children were affected by increased insecurity around schools in 2020-2021.