The World Bank Approves A Fresh $700m Loan For Nigeria

The World Bank in a statement published on its website on Friday, revealed that a fresh $700m loan for Nigeria to enhance adolescent girls’ learning and empowerment has been approved by the Bank.

The new loan serves as additional funding for an ongoing project known as the Adolescent Girls Initiative for Learning and Empowerment.

Nigeria is said to have over 12 million to 15 million out-of-school children in the school-age group, with many of them in Northern Nigeria.

Between 2020-2021, the rise in insecurity surrounding schools affected an estimated one million children.

The statement read, “The World Bank approved additional financing of $700m for Nigeria to scale up the Adolescent Girls Initiative for Learning and Empowerment programme whose goal is to improve secondary education opportunities among girls in targeted states.

The additional financing will scale up project activities from the current seven states to eleven additional states and increase the targeted beneficiaries to include out-of-school girls, those who are married, and those who have disabilities.”

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