World Bank to grant Nigeria $1.7b loan
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The Federal Government is set to receive a fresh loan from the World Bank, with approval expected for loans worth $1.7 billion.
The loan is expected to be approved on September 26, 2024, according to official documents obtained by Punch reports.
Punch said that the funds will be received via three major development projects aimed at enhancing Nigeria’s economic stability and resource mobilisation capabilities.
The first project is the Nigeria: Primary Healthcare Provision Strengthening Programme, which is set to receive $500 million.
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The second project, Nigeria Human Capital Opportunities for Prosperity and Equity Governance, has proposed funding of $500 million.
While the Sustainable Power and Irrigation for Nigeria Project will receive the highest funding of $700 million.
The document stated that these projects have reached the negotiation stage and are expected to be approved on September 26, 2024. (As of board presentation).
