World Bank Grants $700M Loan To Nigeria For Education, Empowerment

The World Bank has given the green light for a new $700 million loan to support education and empowerment initiatives for adolescent girls in Nigeria. This announcement was made in a statement posted on its website last Friday.

This fresh loan is intended to provide additional financial resources for the ongoing Adolescent Girls Initiative for Learning and Empowerment program. The statement outlines its objectives:

“The World Bank has approved an additional $700 million in financing for Nigeria to expand the Adolescent Girls Initiative for Learning and Empowerment program, which aims to enhance secondary education opportunities for girls in specific states. The additional funds will expand project activities from seven states to eleven more and include out-of-school girls, married girls, and those with disabilities.”

Addressing the Out-of-School Children Crisis

The statement also highlights Nigeria’s significant challenge of out-of-school children, estimated to range from 12 million to 15 million within the school-age group, predominantly in Northern Nigeria. It is noted that around one million children were affected by increased insecurity around schools in 2020-2021.

In the seven states where the AGILE program is implemented – Borno, Ekiti, Kaduna, Kano, Katsina, Kebbi, and Plateau – the number of girls in secondary schools has risen from approximately 900,000 to over 1.6 million. The AGILE program has resulted in the renovation of over 5,000 classrooms and the awarding of scholarships to more than 250,000 eligible girls. Additionally, it has supported the improvement of school infrastructure, including WASH facilities, computers, and solar panels, making school attendance more convenient and conducive for both genders. The program also addresses social norms hindering girls’ education through life skills, systems strengthening, and advocacy efforts.

World Bank’s Commitment

Shubham Chaudhuri, the World Bank Country Director for Nigeria, emphasized the importance of bridging gender gaps in economic empowerment through education and skills development:

“Closing the gender gaps in economic empowerment by ensuring girls have access to education and skills is key for Nigeria’s development and economic 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.”

Expanding Impact

The statement underscores that the loan will not only benefit girls but also extend its impact to over 15 million students and other stakeholders, including teachers, administrators, families, communities, and staff within both existing and newly established schools. It is noted that the newly established fund will expand the program’s coverage to 18 states with the aim of improving education and healthcare outcomes for girls in Nigeria.

Additional Insights

This marks the third loan facility approved during the administration of Bola Tinubu. The first, a $750 million loan, was approved on June 9, 2023, to bolster Nigeria’s power sector. The second, a $500 million loan, was approved on June 22, 2023, to promote women’s empowerment in the country.