FG Seeks Fresh $300 Million Loan From World Bank
The Federal Government has engaged the World Bank for a fresh $300m loan to strengthen Nigeria’s health security infrastructure.
Information obtained from the World Bank showed that the loan, which is under consideration, will be implemented by the Nigeria Centre for Disease Control with the Federal Ministry of Finance acting as borrower on behalf of the Federal Government.
According to information on the World Bank website, the loan project is expected to “increase regional collaboration and health system capacities to prevent, detect, and respond to health emergencies in the Federal Republic of Nigeria.”
The project is currently in the pipeline stage, with the disclosure date scheduled for February 6, 2025.
The World Bank board is expected to give its approval on July 30, 2025, following necessary assessments. The appraisal is set for April 14, 2025, and implementation will commence in the 2026 fiscal year.
Nigeria has previously secured funding from international financial institutions to boost healthcare resilience, including financing for vaccine procurement, emergency medical services, and infrastructure development.
However, the project, categorised as a high-priority public health intervention, carries substantial environmental and social risks due to potential health, safety, and ecological concerns associated with infrastructure expansion.
Identified risks include increased medical waste, occupational hazards, and heightened energy and water demands. Social risks range from potential grievances from stakeholders to concerns over land acquisition and implementing health interventions in conflict-prone areas.
