The World Bank Group has approved a loan of $500m to help Nigeria drive women’s empowerment, The PUNCH has learnt.

This became the second loan approved by the World Bank under the new President, Bola Tinubu.

It is a scale-up financing for Nigeria for Women Programme, which was initially approved on June 27, 2018, with $100m financing.

A statement by the World Bank read in part, “The World Bank has approved $500m for Nigeria for Women Program 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.


“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 stressed the need for the government to address issues that inhibit women’s economic empowerment and hinder inclusive, low-carbon, and resilient economic growth.

It noted that women’s empowerment is essential to their ability to build resilience to climate change and, by extension, the resilience of their households and communities.

The World Bank Country Director for Nigeria, Shubham Chaudhuri, was quoted as saying, “We have seen promising outcomes from the parent NFWP which has helped to create economic opportunities for thousands of rural women through the Women Affinity Groups. NFWP’s model is helping to improve livelihood opportunities for women and enhancing their capacity to adapt to climate change and to participate in local administrations for policymaking related to community empowerment.

“Closing the gender gap in key economic sectors could yield gains of between $9.3bn and $22.9bn, we are optimistic that this scale-up will help Nigeria to move closer to bridging this gap.”

Also, the Task Team Leader for Nigeria for Women Project, Michael Ilesanmi, said, “The Program aims to mobilize poor and vulnerable women into different institutions and, using these institutional platforms, link them to markets as well as financial and non-financial services. Through participation in Women Affinity Groups, project beneficiaries build social capital that can then be leveraged to access financial, political, and economic capital–thus leading to both social and economic empowerment.”

It was disclosed that NFWP has been implemented in six states and provides support to over 427,887 Women Affinity Groups’ members through the formation and strengthening of 20,506 of these groups.

In about two years, these WAGs have saved about NGN 4bn ($8.9m equivalent), with a significant percentage of these funds in circulation as loans at any given time. So far, 835,573 community members have benefitted from the NFWP through different interventions.

Source: https://punchng.com/world-bank-okays-fresh-500m-loan-for-fg/

World Bank will pay for it by themselves because this money is not borrowed on my behalf.

Na wa o

Funke


To do what ? All the savings on subsidy removal no do

Another loan? Make Una kukuma change the country name to BarceLONA


So that we can begin to identify ourselves as LONIANS

The report did not say the conditions Nigeria would fulfill to be able draw on this loan.

Lol..

When these BrettonWoods demons finish with us, our name go turn to Geria.

Tinubu is adammt on presudency because of loans...and that is why he is insistent on apkabio

Instead of managing our subsidies like western nations do we scrapped them. Now we will need many more loans to survive because we are not producing much and our natural resource we normally sell to eat can't keep up with the increasing mouths.

Helpfromabove1:
Funke

To do what ? All the savings on subsidy removal no do

Do you know how much Tinubu spent in buying an election?..

POC for cars will now be done annually..
see how desperate the thief is in recouping all he has spent with interest..

More loans.. coming
more debt increase

This is the destiny of Tinubu
To destroy what's remaining of Nigeria after Buhari..

Quote me anywhere

over to Agbadorians who can't afford three square meals and trekks hundreds of kilometers ... come and defend the Brain dead failure .. bloody zombies

okoo

EconomistXplain:
Tinubu is adammt on presudency because of loans...and that is why he is insistent on apkabio

Express ATM..

120 car convoys in a country of 30k minimum wage...

Someone who can't afford his next meal will come here to defend corruption and wickedness in high places..

Why is it that some certain people that defended buhari for 8yrs is the same defending Tinubu?…. Something is not right.

Money spent in vote buying must be recovered by all means.

But as long as his supporters ain't facing same hardship, I'm cool.

slimfit1:
World Bank will pay for it by themselves because this money is not borrowed on my behalf.

Do you know how much you and your family are owing only China?..

All Buhari cares about is not being disturbed by any probe...

The guilty runneth and trembles when no one pursueth..
Tinubu will Bankrupt the country

TemplarLandry:
They sha want to cripple us with debt by all means…

You supported all their moves now, so why pretend as if you care about the consequences?
Be supporting IMF policies and think you are playing local politics.

ZombiePUNISHER:


Do you know how much you and your family are owing only China?..

All Buhari cares about is not being disturbed by any probe...

The guilty runneth and trembles when no one pursueth..
Tinubu will Bankrupt the country

Rockefeller predicted the expiration of Nigeria by 2026, this is it.

Obinwenite:
Why is it that some certain people that defended buhari for 8yrs is the same defending Tinubu?…. Something is not right.

they are party agents and can't think for themselves any longer. Once they agree to become an agent to the higher men in power they are put through initiation process where they lost their will and brain to the interests of their masters. Sadly, Seun and his mods are almost like those agents except in manner of approach.

Nigerian Debt keep rising because of APC recklessness. Next is to use it for 120 convoys

Nigeria is a case study for world Bank and IMF. These are the guys that control the economy of this country. This country really needs to be liberated chai!!

Nice one....

I will advise Jagaban to be a step ahead of these developed nations using IMF borrowing to plung us into poverty. They don't mean well for us because they know if Nigeria gets it right, the whole of Africa will be liberated. They benefit more from our penury because that's what sustain their own prosperity. Wise up Jagaban, don't take that loan.

Another loan for what? Women empowerment 🤦🏾

Okay

Wow

World Bank could you please send my girlfriend's own of the $500M directly to my own account?? Plsss😭😭😭

RECTEM:
Nigerian Debt keep rising because of APC recklessness. Next is to use it for 120 convoys

I'd advise you pray for yourself and family. Don't put your hope in this government. Once your family is OK that's fine. You and I were in this country when they said 250 naira to a dollar wasn't OK in 2015, that they'd reverse it. I'm sure you know how much the dollar is today and their blind supporters are praising them for impoverishing the common man. Even those praise singers are worse hit by their bad economic policies.

If your family is blessed, you'd not even bother yourself over their activities anymore. A friend came to visit me yesterday and said his former colleague who owns Konga is now number 20 on the list of the richest people in Nigeria. That's the type of news that should excite you and I, work hard and engage God in your doings. He bought 30 brand new trucks recently . He wants to go into logistics now and call it Konga logistics. He's diversifying, you see. He's richer than many of the thieves who are in government today.

Hmmm

nice one