The World Bank on Tuesday approved six projects worth about $2.2bn for implementation in Nigeria in the 2020 fiscal year.
The management of the bank had met to deliberate on a request from the Federal Government.
A statement issued by the World Bank early on Wednesday said the projects would support human capital and economic development in a bid to lift millions of Nigerians out of poverty.
The Bretton Woods institution noted that Nigeria, with its large population and high poverty rate, was ‘central’ to its campaign against ‘extreme poverty.’
According to the statement, the facilities approved by the bank will finance projects aimed at improving immunisation, creating stronger business environment for the private sector and expanding the digital economy for job creation.
The projects also seek to increase public and private sector capacities on governance, and provide social and environmental safeguards.
World Bank Group President, David Malpass, said while announcing the approval of the projects, “Nigeria is central to the World Bank Group’s mission of tackling extreme poverty.