Again World Bank approves $1.57bn loan for Nigeria bringing total external debt to $112 billion dollars

The World Bank has approved three new loan requests totalling $1.57bn in financing for Nigeria.

According to a statement released on Monday, the approval is to support the Federal Government in strengthening human capital through better health for women, children and adolescents.

It added that the approved projects would also help build resilience to the effects of climate change, such as floods and drought, by improving dam safety and irrigation.

The statement read, “The World Bank has today approved three operations for a total of $1.57bn to support the Government of Nigeria in strengthening human capital through better health for women, children and adolescents and building resilience to the effects of climate change such as floods and droughts through improving dam safety and irrigation.”