World Bank approves $2.1bn loan for seven projects in Nigeria

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The World Bank has announced the approval of $2.1bn loan for seven projects to be executed in Nigeria.

A statement issued in Abuja on Thursday said the loans were approved in Washington on Wednesday and are for seven projects to support Nigeria’s investment in nutrition, access to electricity, states’ fiscal transparency, polio eradication, women’s economic empowerment, public finance and national statistics and reducing vulnerability to soil erosion.

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World Bank Country Director for Nigeria, Rachid Benmessaoud, was quoted to have said, “The Federal Government of Nigeria’s Economic Recovery and Growth Plan identifies human capital investment, restoring growth, and building a competitive economy as its key pillars.

The projects approved by the International Development Association, the bank’s low-interest arm, are expected to support Nigeria’s economic growth plan.
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