World Bank approves $961 million to support Nigeria’s Economic Recovery and Growth Plan


Education is highly important in every country. Many countries have in different ways seek supports to improve its educational sector. Recently, the World Bank has approved two Program-for-Results operations totalling $961 million to support the Nigerian federal and state authorities in their effort to foster inclusion and revive growth, in alignment with the Economic Recovery and Growth Plan (ERGP) of the Federal Government of Nigeria for 2017-2020. This programme is majorly to combat economic development threats which poor education is one of them.

Similarly, the Better Education Service Delivery for All (BESDA) Program-for-Results is a $611 million worth project aiming to bring out-of-school children into the classroom, improve literacy, and strengthen accountability for results in basic education. It was reported that In 2013, 13.2 million school-age children were out of school, the overwhelming majority of which is in the North where out-of-school children rates are also higher among girls, in rural areas and form poor families. This number has drastically reduced has many female children and parents are now well enlightened about the importance of education.

It was reported that the World Bank fund includes a $350 million loan to Kaduna State Economic Transformation Program for Results. This programme focuses on enhancing private sector investment in Kaduna State through improved business environment, effective budget planning and execution and fiscal accountability. Kaduna State has taken a number of reform actions to improve its economic performance and social outcomes and sustain this reform effort. Also other northern states are said to benefit from this fund which will foster the states’ development.

“Investing in human capital and creating economic opportunities for all are key areas of focus to achieve more inclusive and private-sector led growth. These two operations support the Government’s economic and growth recovery plan and will help Nigeria achieve sustainable and measurable results,” said World Bank Country Director for Nigeria, Rachid Benmessaoud.

In addition, both programmes are said to implement results-based financing, whereby disbursement of funds is linked to the achievement of tangible, verifiable results. Both progammes target the improvement on educational standard which aims at bringing the out of school children back to school. Their focus is mainly to reduce the number of children out of school, roaming on the street.

Education is very important to children as they are referred to as the leaders of tomorrow. Nigeria on its own has worked and still working on making education available to every less privileged child. However, with the support of World Bank, the country is set to experience vast development in no time.

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