World Bank Grants Fresh $700m Loan To Nigeria

World Bank grants fresh $700m loan to Nigeria. The new $700 million loan is to bolster education and empowerment initiatives for adolescent girls in Nigeria.

VerseNews reports that 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 $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.”

Nigeria is struggling with a substantial number of out-of-school children, with estimates ranging from 12 million to 15 million in the school-age group. Many of these children are concentrated in Northern Nigeria.