World Bank Schedules December As Approval Date For Nigeria’s N1.4 Trillion Fresh Loan

<h4>World Bank Schedules December As Approval Date<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that the World Bank has said it has fixed December 16 as a tentative approval date for a fresh &dollar;1bn Development Policy Financing loan to Nigeria under a new initiative tagged &OpenCurlyDoubleQuote;Nigeria Actions for Investment and Jobs Acceleration &lpar;P512892&rpar;&period;”<br &sol;>&NewLine;1&comma;000&comma;000&comma;000 United States Dollar equals 1&comma;444&comma;454&comma;230&comma;000&period;00 Nigerian Naira&period;<&sol;p>&NewLine;<p>According to a project document published by the bank on October 27&comma; the new facility comprises a &dollar;500m International Development Association credit and a &dollar;500m International Bank for Reconstruction and Development loan&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;25779" aria-describedby&equals;"caption-attachment-25779" style&equals;"width&colon; 300px" class&equals;"wp-caption alignnone"><img class&equals;"size-medium wp-image-25779" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2024&sol;07&sol;kuwaiti-dinar-money-with-american-dollars-bills-and-european-euros-banknotes-selective-focus-of-a-pile-of-20-twenty-kuwaiti-dinars-100-one-hundred-d-2J5F6BG-300x221&period;jpg" alt&equals;"World Bank Schedules December As Approval Date For Nigeria's N1&period;4 Trillion Fresh Loan" width&equals;"300" height&equals;"221" &sol;><figcaption id&equals;"caption-attachment-25779" class&equals;"wp-caption-text"><em><strong>Currencies<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>The facility&comma; which falls under the bank’s Macroeconomics&comma; Trade and Investment practice area for the Western and Central Africa region&comma; is designed to strengthen ongoing economic reforms&comma; promote job creation&comma; and accelerate private investment&period;<&sol;p>&NewLine;<p>The proposed loan is part of the bank’s broader support package aimed at consolidating the country’s post-reform stability and driving inclusive growth across key sectors of the economy&comma; PUNCH reports&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;29743" aria-describedby&equals;"caption-attachment-29743" style&equals;"width&colon; 300px" class&equals;"wp-caption alignnone"><img class&equals;"size-medium wp-image-29743" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2025&sol;06&sol;Borno-e1750498088693-300x101&period;jpg" alt&equals;"World Bank Schedules December As Approval Date For Nigeria's N1&period;4 Trillion Fresh Loan" width&equals;"300" height&equals;"101" &sol;><figcaption id&equals;"caption-attachment-29743" class&equals;"wp-caption-text"><em><strong>Insecurity in Nigeria<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>The funding is designed to consolidate Nigeria’s ongoing macroeconomic reforms and support a decisive shift from economic stabilisation to inclusive growth&period;<&sol;p>&NewLine;<p>It will be implemented through the Federal Ministry of Finance&comma; with the World Bank confirming that the loan preparation process has been authorised to proceed&period;<&sol;p>&NewLine;<p>The proposed Development Policy Financing supports Nigeria’s pivot from stabilisation to inclusive growth and job creation&period; Structured as a two-tranche standalone operation of US&dollar;1&period;0 billion &lpar;US&dollar;500m IDA credit and US&dollar;500m IBRD loan&rpar;&comma; it seeks to catalyse private sector–led investment by expanding access to credit&comma; deepening capital markets and digital services&comma; easing inflationary pressures&comma; and promoting export diversification&comma;” the document read&period;<&sol;p>&NewLine;<p>Since 2023&comma; the President Bola Tinubu-led government said it embarked on many economic reforms&comma; including the removal of the petrol subsidy&comma; unification of exchange rates&comma; and an end to central bank deficit financing&period;<&sol;p>&NewLine;<figure id&equals;"attachment&lowbar;30601" aria-describedby&equals;"caption-attachment-30601" style&equals;"width&colon; 300px" class&equals;"wp-caption alignnone"><img class&equals;"size-medium wp-image-30601" src&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;wp-content&sol;uploads&sol;2025&sol;10&sol;Edo-Road-300x207&period;webp" alt&equals;"World Bank Schedules December As Approval Date For Nigeria's N1&period;4 Trillion Fresh Loan" width&equals;"300" height&equals;"207" &sol;><figcaption id&equals;"caption-attachment-30601" class&equals;"wp-caption-text"><em><strong>Federal Highways Of Horror In Nigeria<&sol;strong><&sol;em><&sol;figcaption><&sol;figure>&NewLine;<p>According to the government&comma; the measures&comma; championed under Tinubu’s Renewed Hope Agenda&comma; have helped stabilise the economy&comma; narrow the fiscal deficit&comma; and restore investor confidence&period;<&sol;p>&NewLine;<p>But despite the improvements&comma; growth remains <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">sluggish<&sol;a>&comma; with more than 130 million Nigerians still living in poverty&period;<&sol;p>&NewLine;<p>The World Bank report noted that while macroeconomic stability has returned&comma; &OpenCurlyDoubleQuote;Nigeria’s economy has yet to shift decisively into a higher and inclusive growth path&comma;” underscoring the urgency of new investment to spur productivity&comma; diversify exports&comma; and create jobs&period;<&sol;p>&NewLine;