Business - Economy
Updated: September 23, 2023

World Bank Approves $700 Million Loan To Nigeria

By Felicia Abisola Olamiji
September 23, 2023
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The World Bank has granted Nigeria a new $700 million loan to bolster education and empowerment initiatives for adolescent girls.

This was contained in a statement that was posted on its website last Friday.

The fresh loan aims to offer extra financial resources to support the ongoing initiative named the Adolescent Girls Initiative for Learning and Empowerment.

The statement reads, “The World Bank approved additional financing of $700 million 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.”