Nigeria secures $300m world bank loan to tackle IDP crisis
The World Bank has approved a $300 million loan to support Internally Displaced Persons (IDPs) and their host communities in Northern Nigeria.
The funding, part of the Solutions for the Internally Displaced and Host Communities Project (SOLID), aims to improve access to essential services and economic opportunities for those affected by conflict and insecurity.
The loan was approved on August 7 and will be issued through either the International Development Association (IDA) or the International Bank for Reconstruction and Development (IBRD). While the specific terms have not been released, Nigeria will be required to repay the loan over time.
According to the World Bank, the project is a long-term strategy to address the ongoing displacement crisis, which has forced more than 3.5 million people from their homes.
The influx of IDPs has put a severe strain on local infrastructure and services in selected Local Government Areas, increasing competition for resources and deepening economic hardship.
READ ALSO: World Bank disburses $1.5bn loan to Nigeria
The SOLID Project builds on previous efforts, including the World Bank-backed Multi-Sectoral Crisis Recovery Project (MCRP), but will focus on sustainable, long-term solutions.
The initiative will concentrate on:
Developing climate-resilient infrastructure. Promoting social cohesion and community resilience.
Supporting livelihoods to help residents and IDPs become self-reliant.
Strengthening state and local institutions to better manage demographic changes.
World Bank Country Director for Nigeria, Matthew Verghis, stated that the project’s integrated design aligns with the country’s long-term development vision.
“We are glad to support this initiative, which has tremendous potential to help Nigeria in addressing development challenges associated with protracted displacement in a sustainable way,” he said.
“The Project’s integrated approach will ensure that IDPs and host communities can transition from dependency on humanitarian assistance to self-reliance and resilience, which will open up better economic opportunities.”
The SOLID Project is expected to directly benefit up to 7.4 million people, including approximately 1.3 million IDPs.
It will be implemented through a coordinated, community-driven approach involving federal, state, and local governments, as well as international partners.
Fuad Malkawi and Christopher Johnson, the project’s Task Team Leaders, emphasized the urgency of the new initiative.
READ ALSO: World Bank approves $1.57b loan to support Nigeria’s development efforts
“This operation is central to tackling the enduring displacement crisis in Northern Nigeria,” they said. “It reflects the urgency of addressing infrastructure gaps and service delivery challenges in host communities that were already strained before the influx of displaced populations.
It will provide targeted livelihoods support to help both displaced and host populations achieve sustainable economic outcomes.”
Follow the Neptune Prime channel on WhatsApp:
Do you have breaking news, interview request, opinion, suggestion, or want your event covered? Email us at neptuneprime2233@gmail.com
