The Nigerian government has again secured another loan of $500 million from the World Bank.
ASHENEWS reported the Debt Management Office (DMO), as revealing that Nigeria’s total debt as at December 21, 2022 was N46.25 trillion ($103 billion), but had skyrocketed by N3 trillion to N49.95 trillion as at March, 2023.
A statement by the global bank on Tuesday, said it approved the loan for Nigeria to scale up financing for Nigeria Women Programme, for which $100 million was initially approved on June 27, 2018.
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“The World Bank has approved $500m for Nigeria for Women Program Scale Up (NFWP-SU). The scale-up financing will further support the government of Nigeria to invest in improving the livelihoods of women in Nigeria.
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“The NFWP-SU will help to ensure better economic opportunities for women, which is essential for addressing gender inequality; guaranteeing better education, health, and nutrition outcomes for families; and building women’s and communities’ resilience to climate change,” the statement reads.
This will be the second loan being approved by the World bank in the Tinubu administration.
