The Nigeria World Bank loan stands at $100M, while $14M represents grant
Nigeria has received a $14 million, about 5.3 billion naira in grant from the World Bank as a financial support for the fight against the coronavirus pandemic.
The global lender also approved a $100 million, about 38 billion naira in loans to support the government’s efforts at boosting economic growth and ameliorating the impact of COVID-19 on the economy.
The Nigeria World Bank loan shall be divided between Nigeria’s 36 states and the federal government for the procurement of medical equipment, tests and medicine, World Bank said in a statement on Friday.
Nigeria has recorded more than 45,000 confirmed coronavirus cases and 930 deaths, according to latest tally from the Nigeria Centre for Disease control.
“Nigeria has ramped up its efforts to contain the COVID-19 outbreak, but more needs to done at the state level, which are at the front line of the response,” Shubham Chaudhuri, the World Bank’s Director for Nigeria, said in its statement on the Nigeria World Bank loan.