World Bank grants $500 million loan request for Nigeria

The World Bank has granted approval for a $500 million loan request from the Federal Government of Nigeria, aimed at promoting women’s empowerment in the country. The loan will be utilized to expand the financing of the Nigeria Women Programme, which was initially granted $100 million on June 27, 2018.

According to a statement issued by the World Bank, the $500 million has been approved for the Nigeria Women Program Scale Up (NFWP-SU). This increased funding will enable the Nigerian government to enhance the well-being of women in the country. The NFWP-SU aims to create improved economic opportunities for women, thereby addressing gender inequality, ensuring better education, health, and nutrition outcomes for families, and enhancing the resilience of women and communities in the face of climate change.