World Bank approves $300 million loan for Internally Displaced Persons in Nigeria

The World Bank has approved a $300 million loan for Nigeria to enhance the resilience and access to essential services for Internally Displaced Persons (IDPs) and host communities in Northern Nigeria. The project, called Solutions for Internally Displaced Host Communities Project (SOLID), aims to benefit millions of people, including IDPs, by focusing on infrastructure development, social cohesion, and economic support.

The ongoing conflict and insecurity in the region have displaced millions, straining local resources and livelihood opportunities. The project will build on existing initiatives and international interventions to promote stability, resilience, and inclusive growth.

The World Bank Country Director for Nigeria emphasized the importance of this integrated approach in addressing the challenges of protracted displacement sustainably. Nigeria's total debt to the World Bank has increased, with a significant rise in borrowing from the International Development Association (IDA) for concessional lending.

The World Bank plays a central role in Nigeria's external financing structure, highlighting the importance of these loans in supporting the country's development.