The World Bank has approved $1.57bn in loans for Nigeria to improve health services and build resilience against climate change.

[dropcap]T[/dropcap]he World Bank has approved three new loans totalling $1.57bn to support Nigeria in strengthening health and building climate resilience.

The World Bank has approved three new loan requests totalling $1.57 billion for Nigeria. This funding aims to strengthen human capital by improving health services for women, children, and adolescents.

Also read: World Bank pledges support for Nigeria’s water sector

Additionally, it will enhance resilience against climate change impacts such as floods and droughts through better dam safety and irrigation.

Approved on September 26, 2024, the loans include $500 million for governance issues affecting education and health delivery, $570 million for the Primary Healthcare Provision Strengthening Programme, and $500 million for the Sustainable Power and Irrigation for Nigeria Project.

The HOPE-GOV and HOPE-PHC programmes will significantly enhance basic education and primary healthcare service delivery.

The SPIN project aims to improve dam safety and manage water resources for hydropower and irrigation.

The World Bank’s commitment to Nigeria includes addressing governance weaknesses and reducing maternal and under-five mortality. The projects will benefit 40 million people, focusing on vulnerable populations.

With a total of $6.52 billion secured in loans under President Bola Tinubu’s administration, the World Bank emphasizes its dedication to improving Nigeria’s human capital while managing rising external debt servicing costs.

Dr. Ndiamé Diop, the World Bank Country Director for Nigeria, stated that investing in health and education is vital for future employment opportunities and poverty reduction.

Source: Read more at premiumtimesng.com