Nigeria will repay a $500 million health loan from 2029 to 2054, aiming to strengthen primary healthcare services. Repayment structures detail service fees and performance-linked disbursement. Additional loans are under negotiation to enhance nutrition, economic resilience, and education.
The Federal Government of Nigeria is set to repay a $500 million concessional loan from the International Development Association over a period extending from 2029 to 2054. This financing agreement, acquired to strengthen the country’s primary healthcare services, particularly maternal and child health and pandemic preparedness, was disclosed by Sunday PUNCH.
The loan agreement signifies Nigeria’s commitment to enhancing its healthcare infrastructure despite challenges associated with rising external debt and the depreciation of its currency. Nigeria’s ongoing negotiations for additional loans underscore a broad strategy to address economic resilience and basic education improvements amid pressing economic challenges.
Original Source: punchng.com
