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World Bank Approves $700m Loan For Nigeria Again

World Bank Approves $700m Loan For Nigeria Again

 

Touchaheart Nigeria reports that the World Bank has granted Nigeria a substantial loan of $700 million, as revealed in an official statement released on its website on Friday, September 22nd.

 

This financial support is earmarked to bolster the ongoing “Adolescent Girls Initiative for Learning and Empowerment” project.

 

The statement read:

“The World Bank approved additional financing of $700m for Nigeria to scale up the Adolescent Girls Initiative for Learning and Empowerment programme whose goal is to improve secondary education opportunities among girls in targeted states.

“The additional financing will scale up project activities from the current seven states to eleven additional states and increase the targeted beneficiaries to include out-of-school girls, those who are married, and those who have disabilities.”

 

The statement added;

“In the seven AGILE programme implementing states – Borno, Ekiti, Kaduna, Kano, Katsina, Kebbi, and Plateau – the number of girls in secondary schools has increased from about 900,000 to over 1.6 million.

“Under the programme, over 5,000 classrooms have been renovated and over 250,000 eligible girls have received scholarships.

“The AGILE programme has supported construction and rehabilitation of WASH facilities in secondary schools and the installation of computers and solar panels which make attending school more convenient and conducive for both girls and boys. Life skills, systems strengthening, and advocacy are other key aspects of the program which address social norms impeding girls’ education.”

 

In a recent statement, Shubham Chaudhuri, the World Bank Country Director for Nigeria, emphasized the critical role of closing gender disparities in economic empowerment through improved access to education and skills for girls. He highlighted that this endeavor is paramount for Nigeria’s overall development and economic well-being.

 

Chaudhuri’s remarks underscore the significance of addressing gender inequalities as a vital component of Nigeria’s path to sustainable progress and prosperity.

 

“Nigeria’s working population will soon be one of the youngest and largest around the world, which means that investing in adolescent girls is imperative when addressing overall economic prospects and growth.”

 

According to the statement, in addition to the girls set to benefit directly from this financing, there are a multitude of stakeholders poised to gain, including more than 15 million students, as well as a wide range of beneficiaries, encompassing teachers, administrators, families, communities, and staff associated with both existing and newly established educational institutions.

 

Furthermore, the injection of this new fund is expected to expand the project’s reach to encompass a total of 18 states, marking a significant stride toward enhancing educational and health outcomes for girls across Nigeria. This expansion reflects the commitment to fostering improved educational access and well-being for a broader spectrum of young girls and communities in the country.

 

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