April 02, (THEWILL) – The World Bank has approved a total of $1.08 billion in concessional financing for Nigeria.
A statement by the bank said the facility is targeted to address household and community resilience, improve education and nutrition for vulnerable groups in the country.
THEWILL reports that economic stimulus programme and education will take $500 million each, and the balance would be used to boost standards of nutrition.
“The loan, initially designed to respond to the COVID-19 pandemic, is intended to help strengthen the bank’s extensive reach and impact in Nigeria in the face of economic hardships, especially following the government’s economic reforms in 2023”, the Bank added.
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