Banking & Finance

World Bank Approves ₦12.88tr Loans to Nigeria in Two Years

The World Bank has approved a total of $8.40bn (N12.89tn) in fresh loans to Nigeria over the past two years, according to data obtained from the bank’s official website.

The approvals, covering June 2023 to August 2025, cut across 15 projects in energy, education, healthcare, rural infrastructure and governance.

The amount, converted at the official exchange rate of N1,535.93/$ as of Monday, August 11, 2025, comprises $1.95bn (N2.99tn) from the International Bank for Reconstruction and Development and $6.50bn (N9.98tn) from the International Development Association.

The International Bank for Reconstruction and Development provides loans on commercial or near-commercial terms to middle-income and creditworthy low-income countries, while the International Development Association offers highly concessional loans and grants to the world’s poorest nations.

The PUNCH further observed that Nigeria secured $122.19m (N187.56bn) in grants for two projects.

In a statement on Monday, the World Bank disclosed that a new loan of $300m (N460.78bn) was approved to Nigeria on August 7, 2025, for the Solutions for the Internally Displaced and Host Communities Project.

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