The World Bank approved a new loan of $2.2 billion for the Nigerian federal government in 2025.
According to the World Bank’s project list, the $2.2 billion will be allocated in six different projects.
Global banks have allocated $500 million to “community action for resilience and economic stimulus packages,” which will be approved on March 17.
Also on March 31, the World Bank plans to approve $552 million to obtain “Hope for quality basic education for all” and $800 million of “Accelerating nutrition results in Nigeria 2.0”.
Similarly, the bank said it will approve $300 million on July 15 for a “Solution” solution for the “International Displaced and Boarding Community Project” and another $300 million on August 19 for the “Sanitation Safety Program.”
It also noted that another project is “growth of resilient digital infrastructure (bridge)” that will receive $500 million after approval on September 15.
According to the World Bank, Bridge Initiative and Health Security Programmes are currently in the concept review phase, indicating that they are still in the early stages of assessment and planning.
On November 19, 2024, Nigeria increased its loan from the World Bank International Development Association (IDA) to US$17.1 billion.
Nigeria ranks third on the list of top 10 borrowers, according to IDA’s September 2024 financial statements.
As of December 31, 2024, exposure in Nigeria has dropped to $16.8 billion, but the country retains its position as the third largest debtor of the World Bank IDA.
