The World Bank has granted the Federal Government of Nigeria’s request for a loan in the amount of $500 million.
The loan to scale up finance for the Nigeria Women Program, which was initially approved on June 27, 2018, with $100m financing, was granted, according to a statement provided by the World Bank.
The statement in part reads;
“The World Bank has approved $500m for Nigeria for Women Program Scale Up (NFWP-SU). The scale-up financing will further support the government of Nigeria to invest in improving the livelihoods of women in Nigeria. The NFWP-SU will help to ensure better economic opportunities for women, which is essential for addressing gender inequality; guaranteeing better education, health, and nutrition outcomes for families; and building women’s and communities’ resilience to climate change.”
This will be the second loan being approved by the World bank in the Tinubu administration.