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World Bank Approves $346m For Projects In Nigeria, Others



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The World Bank has approved $346m for projects aimed at strengthening resilience and livelihoods in the Lake Chad region.

The World Bank in a statement said that the projects, which are to be financed through the International Development Association, would be shared between Cameroon, Chad, Niger, and Nigeria.

The Multi-Sectoral Crisis Recovery Project, MCRP, for North Eastern Nigeria, Additional Financing – for which the bank allocated $176m – would help the Federal Government to improve access to basic services and livelihood opportunities for crisis-affected communities in Adamawa, Borno and Yobe states.

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The project will also enhance coordination among the states and other Lake Chad countries.

The project expands the ongoing $200m MCRP project and puts an increased emphasis on support for agricultural livelihoods and investments.

The MCRP AF will provide support for labor-intensive approaches and works programs, promote rural and regional connectivity, rehabilitate market infrastructure, and prioritise climate change adaptation and mitigation.

The project will also expand its education and health activities by providing grants to school committees and incentives to returning teachers.

The statement added that PROLAC will contribute to the rehabilitation of rural roads and small transport infrastructure, and promote productive investments in the affected areas.

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