RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Economy

World Bank Approves $700 Million Loan to Empower Adolescent Girls in Nigeria

Stephen Akudike by Stephen Akudike
September 24, 2023
in Economy
Reading Time: 2 mins read
A A
0
World Bank Approves $700 Million Loan to Empower Adolescent Girls in Nigeria

World Bank on glass building. Mirrored sky and city modern facade. Global capital, business, finance, economy, banking and money concept 3D rendering animation.

Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The World Bank has approved a new $700 million loan to promote education and empowerment among adolescent girls in Nigeria. This financial support aims to further the ongoing Adolescent Girls Initiative for Learning and Empowerment program, as detailed in a statement released on the World Bank’s official website.

The Adolescent Girls Initiative for Learning and Empowerment program aims to enhance secondary education opportunities for girls in select states across Nigeria. This latest infusion of funds will not only expand the initiative’s reach but also broaden its focus. The program will now operate in a total of 18 states, with an increased emphasis on out-of-school girls, those in marital unions, and individuals with disabilities.

AlsoRead

IMF Refuses to Endorse External or Domestic Borrowing for Nigeria.

FG Introduces Green Tax on High-Engine Vehicles from July 1 to Promote Cleaner Transport

Naira Hits Strongest Level Since Mid-February as Global Dollar Weakens

Nigeria faces a significant educational challenge, with an estimated 12 to 15 million children of school age out of school, particularly concentrated in the northern regions. Moreover, heightened insecurity in recent years has adversely affected schooling, impacting approximately one million children in 2020-2021. Against this backdrop, the Adolescent Girls Initiative has made remarkable strides.

In the seven states where the AGILE program is currently active – Borno, Ekiti, Kaduna, Kano, Katsina, Kebbi, and Plateau – the number of girls attending secondary school has surged from approximately 900,000 to over 1.6 million. This success can be attributed to various facets of the program, including the renovation of over 5,000 classrooms and the provision of scholarships to more than 250,000 eligible girls.

Furthermore, the AGILE program has facilitated the refurbishment of water, sanitation, and hygiene (WASH) facilities in secondary schools, along with the installation of computers and solar panels. These infrastructural improvements have made attending school more convenient and conducive for both genders. Additionally, the program encompasses life skills development, systems strengthening, and advocacy efforts aimed at addressing societal norms that hinder girls’ education.

Shubham Chaudhuri, the World Bank Country Director for Nigeria, emphasized the significance of closing gender gaps in economic empowerment by ensuring girls’ access to education and skills. He noted that investing in adolescent girls is vital for Nigeria’s development and economic prosperity, especially considering the country’s youthful and burgeoning workforce.

The benefits of this financing extend beyond the girls directly targeted by the program. Over 15 million students, as well as educators, administrators, families, communities, and staff in newly constructed schools, will also reap rewards. With this infusion of funds, the project is set to expand to 18 states, further contributing to improved education and health outcomes for girls across Nigeria.

Notably, this initiative complements previous efforts aimed at incentivizing female education. The parents and caregivers of approximately 300,000 economically disadvantaged female students in six states – Kaduna, Kano, Katsina, Sokoto, Kebbi, and Plateau – received N10,000 per term as incentives for schooling. Furthermore, N5,000 was granted to each girl’s parent upon program registration.

This latest loan approval from the World Bank underscores the commitment of both national and international stakeholders to uplift and empower adolescent girls in Nigeria. As the country prepares to harness the potential of one of the world’s youngest and largest working populations, these investments in education and skills development for girls will undoubtedly play a pivotal role in shaping Nigeria’s future and fostering economic growth.

Previous Post

Bank of Japan Maintains Ultra-Loose Monetary Policy Amid High Uncertainty

Next Post

India’s Government Considers Selling More Wheat to Stabilize Grain Prices

Related News

IMF Applauds Tinubu Policy Reforms While Lowering Growth Projections

IMF Refuses to Endorse External or Domestic Borrowing for Nigeria.

by Victoria Attah
April 17, 2026
0

The International Monetary Fund (IMF) has declined to recommend whether Nigeria should prioritise external or domestic borrowing, insisting instead that...

Top 6 innovative industries to watch in the Next 5 Years

FG Introduces Green Tax on High-Engine Vehicles from July 1 to Promote Cleaner Transport

by Jide Omodele
April 17, 2026
0

The Federal Government has rolled out a new environmental levy targeting vehicles with large engine capacities as part of the...

Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

Naira Hits Strongest Level Since Mid-February as Global Dollar Weakens

by Stephen Akudike
April 16, 2026
0

The Nigerian naira extended its recent rally on Wednesday, closing at N1,341.99 per US dollar in the official foreign exchange...

Nigerian Airlines Issue Ultimatum: “We May Shut Down Operations Over N3,000/Litre Jet Fuel”

by Victoria Attah
April 16, 2026
0

Nigerian airlines have issued a dramatic ultimatum, warning that they may suspend all domestic and international flight operations nationwide from...

Next Post
 Global Rice Prices Reach 15-Year High Amid India’s Export Ban

India's Government Considers Selling More Wheat to Stabilize Grain Prices

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigerian Breweries Reports Record N145 Billion Naira Loss in 2023

Nigerian Breweries Attributes 135% Share Price Surge to Successful Recovery Strategy

April 17, 2026
Nigeria Rules Out IMF Loans Despite Rising Debt Concerns – Wale Edun

Nigeria Rules Out IMF Loans Despite Rising Debt Concerns – Wale Edun

April 17, 2026

Popular Story

  • Top 6 innovative industries to watch in the Next 5 Years

    FG Introduces Green Tax on High-Engine Vehicles from July 1 to Promote Cleaner Transport

    0 shares
    Share 0 Tweet 0
  • FG Takes Governors to Supreme Court Over Local Government Allocations

    0 shares
    Share 0 Tweet 0
  • External debt servicing gulps $357.26m in three months

    0 shares
    Share 0 Tweet 0
  • Nigerian Airlines Issue Ultimatum: “We May Shut Down Operations Over N3,000/Litre Jet Fuel”

    0 shares
    Share 0 Tweet 0
  • Nigeria Total Debt Surges to N88 Trillion – DMO

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>