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World Bank Approves Financing For Education In Nigeria

Channels Television  
Updated March 7, 2014

IDA logoThe World Bank has approved financing for Nigeria to further support secondary education programs in Lagos State through its International Development Association (IDA).

The new IDA credit of over 42 million dollars is an addition to an original credit of 95 million dollars which covered 620,000 students in Lagos State, between 2009 and 2013.

The bank said that this has also helped to increase the number of poor children accessing quality secondary education, and helping technical college graduates from low-income backgrounds to find jobs.

According to the World Bank Country Director for Nigeria, Marie Francoise Marie-Nelly, this move would go a long way in eliminating extreme poverty and boosting shared prosperity, in furtherance of the World Bank’s goals.

The International Development Association (IDA) is an international financial institution which offers concessional loans and grants to the world’s poorest developing countries. The IDA is a member of the World Bank Group and is headquartered in Washington, D.C., United States.