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

Nigeria’s Foreign Reserves Rise by $551 Million in Three Weeks

Is the World Underestimating Nigeria?

Dangote Refinery Reduces Aviation Fuel Price to N1,650 per Litre

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

Naira depreciates to N755/$ in the parallel market.

Nigeria’s Foreign Reserves Rise by $551 Million in Three Weeks

by Jide Omodele
May 25, 2026
0

Nigeria’s external reserves have recorded a notable recovery in May 2026, climbing by approximately $551 million within the first three...

Exploring the data on multidimensional and monetary poverty in Nigeria.

Is the World Underestimating Nigeria?

by Stephen Akudike
May 21, 2026
0

For years, conversations about the future of global power have sounded familiar. China. The United States. India. Perhaps the European...

Airlines Implement Time-Saving Strategies for More Efficient Operations

Dangote Refinery Reduces Aviation Fuel Price to N1,650 per Litre

by Akpan Edidong
May 21, 2026
0

Dangote Petroleum Refinery & Petrochemicals has announced a significant reduction in the price of Jet A1 (aviation fuel), slashing it...

NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Denies Heavy Intervention in FX Market, Highlights Minimal Participation

by Jide Omodele
May 21, 2026
0

The Central Bank of Nigeria (CBN) has refuted allegations of aggressive intervention in the foreign exchange market, insisting that its...

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

Airlines Implement Time-Saving Strategies for More Efficient Operations

FAAN Engages International Airlines on Improved Airport Operations and Passenger Experience

May 25, 2026
FMDQ Exchange Records N21.70 Trillion Secondary Market Turnover in October

FMDQ Turnover Hits $180.85 Billion as Trading Volume Surge

May 25, 2026

Popular Story

  • Q2 GDP: Analysts Unhappy With Performance Of Agriculture, Manufacturing Sectors

    0 shares
    Share 0 Tweet 0
  • Ethereum Struggled to Clear the $4,800 Resistance Zone 

    0 shares
    Share 0 Tweet 0
  • NNPC – 1.8bn Litres Of Fuel Available For Feb and March. 

    0 shares
    Share 0 Tweet 0
  • The Nixon Shock of 1971 and Today’s “Cheap Japan”

    0 shares
    Share 0 Tweet 0
  • APC Governors hail Zulum

    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}
?>