FG eyes $1bn W’Bank loans for IDPs, agric

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The Federal Government of Nigeria is in discussions with the World Bank to secure loans totaling over $1bn aimed at addressing the challenges faced by Internally Displaced Persons (IDPs) and their host communities, as well as enhancing rural access and agricultural marketing within the country.

The proposed loans, outlined in World Bank documents titled ‘Solutions for the Internally Displaced and Host Communities Project’ and ‘Rural Access and Agricultural Marketing Project – Scale Up,’ are designated to allocate $500m towards the IDP initiative and $550m for the rural access and agricultural marketing project.The IDP project seeks to enhance access to resilient basic services and economic opportunities for IDPs and their host communities, particularly in displacement-affected areas in the northern region of the country.

These initiatives reflect the government’s commitment to addressing humanitarian crises and promoting rural development, with the potential to significantly impact the lives of affected populations and contribute to sustainable economic growth.

Source: Daily Trust

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