The Federal Government of Nigeria is actively seeking $1.5 billion in new financing from the World Bank, aimed at enhancing social protection, early childhood development, and climate resilience initiatives. This financing will be structured as three separate loans, each valued at $500 million.
According to documents from the World Bank, these loans are at different stages of preparation, with the earliest expected to be presented to the Bank's board in October 2026. The first loan is an additional credit for the Agro-Climatic Resilience in Semi-Arid Landscapes project (ACReSAL), which aims to tackle climate-related challenges across 19 northern states.
The second proposed facility, also worth $500 million, is focused on improving early childhood development services for children aged zero to five, addressing critical issues like health, nutrition, and early learning. The third loan, known as HOPE-SP, aims to establish a sustainable social assistance system for vulnerable households in Nigeria.
As Nigeria's public debt continues to rise, with the total reaching approximately $120.93 billion, these proposed loans highlight the government's reliance on external financing to support crucial development projects. If approved, these loans will significantly bolster Nigeria's World Bank-backed financing pipeline.