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

NGX Market Capitalisation Drops N1.35 Trillion as Profit-Taking Triggers 0.86% Decline

Nigeria’s Passport Rises to 89th on Henley Index but Visa-Free Access Falls to 44 Destinations

Subnational External Debt Surges as 32 States, FCT Borrow Nearly $1 Billion in 2025

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

Nigeria’s Stock Market Records N1.81 Trillion Gain in July.

NGX Market Capitalisation Drops N1.35 Trillion as Profit-Taking Triggers 0.86% Decline

by Jide Omodele
May 6, 2026
0

The Nigerian Exchange (NGX) came under significant selling pressure on Tuesday, May 6, 2026, as investors booked profits on major...

Nigerian Students Spend $340.84 Million on Foreign University Applications in the H1 of 2023

Nigeria’s Passport Rises to 89th on Henley Index but Visa-Free Access Falls to 44 Destinations

by Victoria Attah
May 6, 2026
0

Nigeria’s passport has recorded a modest improvement in global ranking, climbing to 89th position in the latest Henley Passport Index...

FG Allocates N5.1 Billion for Presidential Yacht and N5.5 Billion For Student Loans

Subnational External Debt Surges as 32 States, FCT Borrow Nearly $1 Billion in 2025

by Victoria Attah
May 4, 2026
0

Nigerian states and the Federal Capital Territory (FCT) significantly ramped up their foreign borrowing in 2025, with 32 states and...

Nigeria Plans New FX Rules, Targeting 750 Naira Exchange Rate

Naira Posts First April Appreciation as it hits ₦1,374/$ Since NAFEX Era

by Jide Omodele
May 4, 2026
0

The Nigerian naira recorded a month-on-month gain in April 2026, marking its first positive April performance since the introduction of...

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

Dangote: Cement Industry Contributes 7% to Global Emissions

Dangote Cement Eyes London Stock Exchange Listing Before End of 2026

May 8, 2026
South Africa Poised to Surpass Nigeria as Africa’s Largest Economy

Nigeria’s Fixed Income Market Set for Massive N10.53 Trillion Liquidity Inflow in May

May 8, 2026

Popular Story

  • Battered Commodity Currencies Gain Attention Amid Dollar’s Decline.

    Naira Strengthens Further Against US Dollar, Approaches N1,350 Level

    0 shares
    Share 0 Tweet 0
  • Banks Post Record N26.3 Trillion Revenue in 2025, But Profits Decline on Loan Provisions

    0 shares
    Share 0 Tweet 0
  • Nigeria’s Fixed Income Market Set for Massive N10.53 Trillion Liquidity Inflow in May

    0 shares
    Share 0 Tweet 0
  • Dangote Cement Eyes London Stock Exchange Listing Before End of 2026

    0 shares
    Share 0 Tweet 0
  • NGX Market Capitalisation Drops N1.35 Trillion as Profit-Taking Triggers 0.86% Decline

    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}
?>