The World Bank has approved three funding operations for Nigeria, totaling $1.08 billion in concessional financing.
These initiatives aim to improve quality of education, strengthen household and community resilience, and enhance nutrition for underserved groups.
The funding includes $500 million in additional financing for the NIGERIA: Community Action for Resilience and Economic Stimulus (NG-CARES) Program, $80 million for Accelerating Nutrition Results in Nigeria (ANRIN 2.0), and $500 million for Hope for Quality Basic Education for All (HOPE-EDU).
According to a statement from the World Bank yesterday, the NG-CARES Programme will help expand access to livelihood support, food security services, and grants for poor and vulnerable households and communities.
The financing for ANRIN is designed to increase access to quality and cost-effective nutrition services for pregnant women, lactating mothers, adolescent girls, and children under five in selected areas.
The new funding for HOPE-EDU is focused on improving foundational learning, increasing access to basic education, and strengthening education systems in participating states.
Originally created as a response to the COVID-19 pandemic, the NG-CARES Programme-for-Results (PforR) operation has reached over 15 million direct beneficiaries.
It has since evolved into a platform providing multi-sectoral support for the poor and vulnerable. Implemented at the subnational level across all 36 states and the Federal Capital Territory, the programme is expected to stimulate the local economy through social transfers, labor-intensive public works, livelihood grants, basic community services, agricultural interventions, and support for micro and small enterprises.
“The additional financing will enhance the programme’s extensive reach and positive impact, particularly as economic challenges persist following the 2023 fuel subsidy reforms and foreign exchange rate unification,” the World Bank stated”.
