Home » World Bank approves new $1.57 billion support fund for Nigeria.

World Bank approves new $1.57 billion support fund for Nigeria.

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The World Bank has approved three operations totaling $1.57 billion to support Nigeria in enhancing human capital through improved health for women, children, and adolescents, while also addressing climate change by enhancing dam safety and irrigation.

This new funding includes $500 million to tackle governance issues that hinder education and health delivery (HOPE-GOV), $570 million for the Primary Healthcare Provision Strengthening Program (HOPE-PHC), and $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN).

Supporting the federal government’s newly launched health sector reforms, the World Bank stated that the HOPE-PHC project will enhance the quality and use of essential reproductive, maternal, newborn, child, and adolescent health and nutrition services. This initiative aims to significantly reduce maternal and under-five mortality rates and bolster the resilience of the health system, benefiting 40 million people, particularly vulnerable populations.

The project is funded by a concessional $500 million International Development Association (IDA) credit and an additional $70 million in grant financing from the Global Financing Facility for Women, Children, and Adolescents (GFF).

“Effective investment in the health and education of Nigerians today is crucial for increasing future employment opportunities, productivity, and earnings while reducing poverty among the most vulnerable,” said Dr. Ndiamé Diop, the World Bank Country Director for Nigeria. “This new financing for human capital and primary healthcare will address the complex challenges faced by Nigerians, especially women and girls, regarding access and quality of services, as well as the governance issues that contribute to these challenges.”

Dr. Diop added, “The SPIN program is timely and will protect Nigerians from floods and droughts in the areas where it will be implemented while also enabling an increase in hydropower generation. The direct positive impact of this project on people and livelihoods is enormous. The World Bank is pleased to collaborate with the government and other stakeholders to deliver this program.”


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