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NEWS: Nigeria Receives Another $700 Million Loan From The World Bank

A new $700 million loan has been granted for Nigeria by the World Bank

This was revealed in a statement that was posted on their website on Friday, September 22

The Adolescent Girls Initiative for Learning and Empowerment, a current project, will get additional funding from the new loan

The announcement said: “The Adolescent Girls Initiative for Learning and Empowerment program, whose objective is to increase secondary school chances for girls in designated areas, has received extra funding from the World Bank of $700 million for scaling up in Nigeria

“With the new funding, project activities will be expanded from the present seven states to eleven additional states, and the targeted beneficiaries will now also include out-of-school females, married people, and people with disabilities

The statement said, “The number of girls enrolled in secondary schools has climbed from over 900,000 to over 1.6 million in the seven AGILE programme implementing states — Borno, Ekiti, Kaduna, Kano, Katsina, Kebbi, and Plateau

Over 5,000 classrooms have been refurbished as part of the program, and over 250,000 qualified girls have received scholarships

“The AGILE program has assisted with the building and renovation of WASH facilities in secondary schools as well as the installation of laptops and solar panels, all of which make going to school more pleasant and conducive for both girls and boys. Other important components of the program that address societal norms inhibiting girls’ education include advocacy, system strengthening, and life skills

“Closing the gender gaps in economic empowerment by ensuring girls have access to education and skills is key for Nigeria’s development and economic prosperity,” said Shubham Chaudhuri, the World Bank’s country director for Nigeria

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“Investing in adolescent girls is imperative when addressing overall economic prospects and growth because Nigeria’s working population will soon be among the youngest and largest worldwide”

The announcement said that in addition to the girls, over 15 million students, teachers, administrators, families, communities, and staff in both old and new schools would gain from the financing

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