Tinubu's Administration Seeks $1.5bn in World Bank Loans
The administration of President Bola Tinubu is pursuing three new loans from the World Bank, totaling $1.5 billion. The proposed loans include $500 million each for climate resilience, social protection, and early childhood development initiatives.
The first facility, an additional $500 million for the Agro-Climatic Resilience in Semi-Arid Landscapes project (ACReSAL), aims to enhance integrated landscape management and is scheduled for board consideration on October 29, 2026. If approved, this will increase ACReSAL's total funding from $700 million to $1.2 billion, focusing on landscape restoration, watershed rehabilitation, and other climate resilience measures.
The Federal Ministry of Environment will implement this project. Additionally, a $500 million Household Prosperity and Empowerment-Social Protection Project (HOPE-SP) is in earlier preparation stages, with a technical design review set for October 30, 2026, and board consideration tentatively scheduled for March 16, 2027.
The Federal Ministry of Finance will be the borrower for HOPE-SP, which aims to expand social assistance for vulnerable households.
Plus234Feed summary based on reporting from Politics Nigeria. Read the original report below.
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