The World Bank has approved $1.57 billion in financing to support Nigeria in key sectors, according to a statement released on Monday. The funding will address governance challenges, improve healthcare, and build resilience against climate change.
Of the approved financing, $500 million is allocated to the Human Capital and Governance Program (HOPE-GOV) program, aimed at improving governance in education and healthcare delivery. An additional $570 million is designated for the Primary Healthcare Provision Strengthening Program (HOPE-PHC) program, which focuses on enhancing primary healthcare, specifically targeting women, children, and adolescents. The Sustainable Power and Irrigation for Nigeria (SPIN) project will receive $500 million to improve dam safety and irrigation, benefiting agriculture and water management.
Ndiamé Diop, the World Bank country director for Nigeria, emphasized the significance of the investment. “Effective investment in the health and education of Nigerians today is central to increasing their future employment opportunities, productivity, and earnings, while reducing poverty of the most vulnerable,” Diop stated.
The projects will also address maternal and child mortality, improve primary healthcare services, and enhance transparency and accountability in resource management. Additionally, the SPIN program aims to protect nearly a million Nigerians from floods and drought, while boosting agricultural productivity and hydropower generation.
—Ezinwanne Onwuka reports for TruthNigeria from Abuja.
