Although Africa is rich in natural resources, their inability to explore utilize them efficiently has ways led them crawling to the feet of institutions like World Bank AND IMF for loans and aids.
The World Bank has approved new loans amounting to $632 million to improve critical areas in Nigeria, such as nutrition and basic education, even amid worries about the nation’s increasing debt.
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Per the bank’s website, this includes $80 million allocated to the Accelerating Nutrition Results in Nigeria 2.0 initiative and $552 million for the HOPE for Quality Basic Education for All program, both finalized on Monday.
These efforts align with the World Bank’s overarching mission to advance Nigeria’s progress in healthcare, education, and community strength.
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The funds are intended to uplift nutritional standards and expand access to high-quality education for Nigerian kids.
This comes on the after a $500 million loan approved on March 28, 2025, for the Community Action for Resilience and Economic Stimulus Programme, which focuses on enhancing livelihoods, food security, and financial aid for struggling households and businesses.
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