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World Bank authorises fresh $500m loan for Tinubu’s govt.

The World Bank Group has approved the Federal Government’s loan request of $500 million to help Nigeria drive women’s empowerment, The Punch reports.
As reported by The Punch, this fresh loan became the second loan approved by the World Bank under the new administration of President Bola Ahmed Tinubu.
World Bank in statement noted that it gave approval for the loan to scale-up financing for Nigeria for Women Programme, which was initially approved on June 27, 2018, with $100 million financing.
“The World Bank has approved $500 million for Nigeria for Women Programme Scale Up (NFWP-SU). The scale-up financing will further support the government of Nigeria to invest in improving the livelihoods of women in Nigeria.”

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The NFWP-SU will help to ensure better economic opportunities for women, which is essential for addressing gender inequality; guaranteeing better education, health, and nutrition outcomes for families; and building women’s and communities’ resilience to climate change.”
The World Bank, however, stressed the need for Tinubu’s government to address issues that inhibit women’s economic empowerment and hinder inclusive, low-carbon, and resilient economic growth.