The Federal Government is in talks with the World Bank to complete the processes of obtaining over $1bn loans to address the challenges facing Internally Displaced Persons and their host communities, as well as bolster rural access and agricultural marketing in the country.
The request is contained in World Bank documents titled, ‘Solutions for the Internally Displaced and Host Communities Project’ and ‘Rural Access and Agricultural Marketing Project – Scale Up.’
While the IDP loan is put at $500m, the rural access and agricultural marketing project loan is estimated at $550m.
Some of the World Bank loans that are being currently addressed by the global bank have reportedly been initiated under the previous administration of President Muhammadu Buhari
According to the documents provided on the bank’s website, the IDP initiative is meant to improve access to resilient and inclusive basic services and economic opportunities for IDPs and their host communities in displacement-affected local government areas in the northern part of the country.
The Solutions for the Internally Displaced and Host Communities Project, estimated for an appraisal date of February 11, 2025, and slated for approval on April 8, 2025, represents a targeted effort to improve the lives of millions affected by internal displacement due to conflict, violence, and climate challenges.
The Washington-based lender added that the Federal Ministry of Budget and Economic Planning would act as the borrower for Nigeria, while the National Commission for Refugee Migrants and Internally Displaced Persons and the North East Development Commission are the implementing agencies.
