The World Bank on Monday approved a $1.57 billion loan to support ongoing projects in Nigeria.
The loans are to support the Federal Government in enhancing human capital through improved health for women, children, and adolescents, as well as building resilience against climate change impacts like floods and droughts.
The World Bank Country Director for Nigeria, Dr Ndiame Diop, who disclosed this in a statement in Abuja, said the projects would address issues hindering education and health delivery with $500 million allocated for this purpose.
He added that an additional $570 million would be deployed to strengthen primary healthcare, while $500 million was to support sustainable power and irrigation initiatives.
The statement read: “The World Bank has today approved three operations for a total of $1.57bn to support the Government of Nigeria in strengthening human capital through better health for women, children and adolescents and building resilience to the effects of climate change such as floods and droughts through improving dam safety and irrigation.”
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Diop revealed that the HOPE-GOV and HOPE-PHC programs would improve basic education and primary healthcare service delivery, crucial for Nigeria’s human capital development.
The SPIN project on the other hand will focus on dam safety and water resource management for hydropower and irrigation in select areas.
“The HOPE-GOV and HOPE-PHC programmes combined will support the Government of Nigeria to improve service delivery in the basic education and primary healthcare sectors which are critical towards improving Nigeria’s human capital outcomes.
“The SPIN project will support the improvement of dams’ safety and management of water resources for hydropower and irrigation in selected areas of Nigeria.
“The HOPE-GOV Programme will support Nigeria to address underlying governance weaknesses in the systems and procedures of government in two key human development sectors,” it noted.
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