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World Bank set to approve $2.2 billion loan for Nigeria in 2025
As of September 30, 2024, Nigeria’s loan exposure from the International Development Association (IDA) stood at $17.1 billion, ranking it as the third-largest borrower.
The World Bank is set to approve a $2.2 billion loan for Nigeria in 2025, spread across six development projects.
According to the Washington-based financial institution, the funding will support key initiatives in education, health, digital infrastructure, and economic resilience.
$500 million – Community Action for Resilience and Economic Stimulus Programme (Approval: March 17)
$552 million – HOPE for Quality Basic Education for All (Approval: March 31)
$800 million – Accelerating Nutrition Results in Nigeria 2.0 (Approval: March 31)
$300 million – Solutions for Internally Displaced and Host Communities Project (Approval: July 15)
$300 million – Health Security Program (Approval: August 19)
$500 million – Building Resilient Digital Infrastructure for Growth (BRIDGE) (Approval: September 15)
The BRIDGE initiative and Health Security Programme are still in the concept review stage, meaning they are undergoing initial assessment and planning.
The Accelerating Nutrition Results in Nigeria 2.0 and HOPE for Quality Basic Education projects have advanced to the negotiation stage.
In 2024, Nigeria secured $1.5 billion from the World Bank to support economic stability and resource mobilization.
As of September 30, 2024, Nigeria’s loan exposure from the International Development Association (IDA) stood at $17.1 billion, ranking it as the third-largest borrower.
By December 31, 2024, the exposure slightly dropped to $16.8 billion, but Nigeria still retained its third-place position on the World Bank’s top debtors list.
The loans, once approved, are expected to boost economic recovery and development efforts across Nigeria.
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