Nigeria is set to receive KSh220 ($2.2) billion from the World Bank, money that will go towards the implementation of the country’s key projects in 2020.
According to the international lender, the money will finance immunization programs, expand the digital economy, job creation intiatives, and public and private sector governance.
Nigeria is central to the Group’s mission of tackling extreme poverty. The Bank is carefully targeting its support on high-impact projects as the country works to tackle corruption and lift 100 million of its people out of poverty.David Malpass, World Bank Group President
Other financiers of the projects include the International Development Association, the French Development Agency and the European Investment Bank.
The new loan, therefore, pushes Nigeria’s domestic and foreign debt to over $80 billion.