BREAKING: World Bank moves to approve Nigeria’s $632m loan request

A $632 million loan application by Nigeria is set to be approved by the World Bank today, Monday, March 31.

Despite concerns surrounding Nigeria’s rising debt profile, the approval from the global bank is aimed at supporting key sectors of education and nutrition.

A publication on the bank’s website on Sunday showed that two different loans would be approved for Nigeria by the World Bank.

The first loan, the Accelerating Nutrition Results in Nigeria 2.0 project is valued at $80 million dollars while the second one, the HOPE for Quality Basic Education for All programme is pegged at $552 million.

According to the details on the bank’s website, both projects are scheduled for approval today.

The loans, the bank said will boost the efforts of the Nigerian government in improving the outcome of nutrition initiatives.

It would also improve access to quality basic education, especially for Nigerian children.