The World Bank, yesterday, approved $1.57 billion for the financing of three new projects in Nigeria.
The Bank said the new funding would help address governance issues in education, improve healthcare, strengthen primary healthcare services and boost resilience to climate change such as floods and drought through improving dam safety and irrigation.
The Washington based Organization stated: “The new financing includes $500 million for addressing governance issues that constrain the delivery of education and health (HOPE-GOV), $570 million for the Primary Healthcare Provision Strengthening Program (HOPE-PHC) and $500 million for the Sustainable Power and Irrigation for Nigeria Project (SPIN).
“The HOPE-GOV and HOPE-PHC programs combined will support the government of Nigeria to improve service delivery in the basic education and primary healthcare sectors which are critical towards improving Nigeria’s human capital outcomes.
“The SPIN project will support improvement of dams’ safety and management of water resources for hydropower and irrigation in selected areas of Nigeria.
“The SPIN Program will help Nigeria to protect citizens from floods and drought through enhanced dam safety and operations. The project will further support the provision of new and improved irrigation and drainage services over an area of 40,000 hectares.
“This will help up to 950,000 people that includes households, farmers, and livestock breeders to directly benefit from more reliable, climate-resilient, and efficient irrigation, water supply and increased agricultural productivity through improved irrigation water management’’.
Commenting on the development, World Bank Country Director for Nigeria, Ndiamé Diop, said the new financing for human capital and primary healthcare will help to address the complex difficulties faced by Nigerians, especially women and girls around access and quality of services.
He added: “Effective investment in the health and education of Nigerians today is central to increasing their future employment opportunities, productivity, and earnings, while reducing poverty of the most vulnerable.’’