BUSINESS AND ECONOMY

World Bank To Approve $750m Loans For Nigeria On Tuesday

The World Bank will approve $750m loans for Nigeria to boost health and digital infrastructure.

The funds target pandemic preparedness and nationwide broadband expansion in underserved communities.

The World Bank is set to approve two major loans worth $750m for Nigeria on Tuesday, September 30, 2025, according to details published on its official website. The facilities will support Nigeria’s healthcare security and expand climate-resilient digital infrastructure in underserved areas.

The first facility, a $500 million loan under the Building Resilient Digital Infrastructure for Growth in Nigeria (BRIDGE) project, will be implemented by the Federal Ministry of Communications, Innovation, and Digital Economy.

The $1.6bn project aims to deliver climate-resilient broadband infrastructure to rural and remote areas. The World Bank’s concessional loan through the International Development Association (IDA) will be supplemented by funds from the African Development Bank, European Investment Bank, Islamic Development Bank, and private investors.

Minister Bosun Tijani said in August that the scheme, which will extend Nigeria’s fibre-optic network from 35,000 to over 125,000 kilometres, represents “the most ambitious and foundational digital infrastructure project in Nigeria’s history.”

The second loan, worth $250m, will fund Phase II of the Health Security Program for West and Central Africa. Nigeria’s component will be coordinated by the NCDC and supervised by the Federal Ministry of Finance.

Osemekemen

Ilumah Osemekemen is Editor at Newskobo.com. A Business Administration graduate, he produces researched content on business, tech, sports and education, delivering practical… More »

News from this Category

guest
0 Comments
Inline Feedbacks
View all comments