The World Bank has approved three financing operations totaling $1.57 billion to support Nigeria's initiatives in improving healthcare outcomes, enhancing dam safety, and upgrading irrigation systems.
In a statement shared with THISDAY, the World Bank highlighted that the funds aim to strengthen Nigeria's human capital and build resilience against climate-related challenges such as floods and droughts.
This financial support is part of ongoing efforts to address critical infrastructure needs and improve the well-being of Nigerian citizens.
The financing includes $500 million for the Health and Education Governance Program (HOPE-GOV), $570 million for the Primary Healthcare Strengthening Program (HOPE-PHC), and $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN). These projects are designed to address critical issues in healthcare, education, and infrastructure, improving services that are pivotal for human capital development.
It states: " In support of the government's newly launched reforms in the health sector, under the Health Sector Renewal Investment Initiative, the HOPE-PHC project will improve the quality and utilization of core reproductive,
Maternal, newborn, child, and adolescent health and nutrition services to substantially reduce maternal and under-five mortality and to improve the resilience of the health system benefiting 40 million people, especially vulnerable populations.
The project is financed by a concessional $500 million International Development Association (IDA) credit and an additional $70 million in grant financing from the Global Financing Facility for Women, Children and Adolescents (GFF). The GFF support includes $11 million from the UK Foreign, Commonwealth & Development Office (FCDO) and $12.5 million from the Children's Investment Foundation Fund (CIFF) through joint financing with the GFF to help close the financing gap for primary and community healthcare and maternal newborn care at hospital-level, while also supporting government efforts to ensure sustainable financing for family planning commodities."