Nigeria has secured $1.08 billion in concessional financing from the World Bank to improve education, boost economic resilience, and enhance nutrition for underserved communities.
The World Bank in a statement announced that the loan, originally designed to support recovery from the COVID-19 pandemic, will help strengthen Nigeria’s economy, especially following the government’s 2023 economic reforms.
Out of the total funding, $500 million will support an economic stimulus program, another $500 million will go toward improving education, and the remaining funds will be used to enhance nutrition standards across the country.
© WAVN