The World Bank has approved a new financial package of $1.57 billion to support Nigeria’s efforts in improving health care, education, and managing climate challenges like floods and droughts.
The funding will be used for three key projects aimed at strengthening human capital, improving dam safety, and boosting irrigation.
The funding includes:
- $500 million for the HOPE-GOV project, which will address governance issues affecting the delivery of education and health services.
- $570 million for the HOPE-PHC program, aimed at improving primary health care, especially for women, children, and adolescents.
- $500 million for the SPIN project, which will enhance dam safety and improve water management for irrigation and power generation.
The HOPE-GOV project focuses on improving the governance of basic education and primary healthcare services. It aims to ensure better use of financial resources, more effective management of teachers and healthcare workers, and improved transparency and accountability in how funds are spent.
The HOPE-PHC program will directly improve health care for 40 million people, targeting vulnerable populations. It will focus on maternal and child health services, with the goal of reducing maternal and under-five mortality rates. The program is funded by a $500 million concessional credit from the International Development Association (IDA) and an additional $70 million grant from the Global Financing Facility.
The SPIN project will protect communities from the effects of floods and droughts by improving dam safety and providing better irrigation services. It is expected to benefit up to 950,000 people, including farmers and livestock breeders, by ensuring a more reliable water supply and increased agricultural productivity.
The World Bank Country Director for Nigeria, Dr. Ndiamé Diop, said, “Effective investment in the health and education of Nigerians today is central to increasing their future employment opportunities, productivity, and earnings, while reducing poverty of the most vulnerable.”
He also emphasized that the SPIN program will help protect Nigerians from climate-related challenges while supporting hydropower generation.
