Nigeria seeks $500m World Bank loan for critical health issues

Nigeria seeks $500m World Bank loan for critical health issues

The Nigerian government is engaging the World Bank for a $500 million loan to support its recently approved Health Sector Renewal Investment Initiative (HSRII).

This financial commitment, as detailed in a World Bank appraisal document seen by Nairametrics, is part of a broader effort to address the critical health challenges facing the nation.

According to the document, the $500 million will be provided under the ‘Nigeria: Primary Healthcare Provision Strengthening Program’.

A part of the document read: “The proposed PforR Program is grounded in the Nigeria Health Sector Renewal Investment Initiative (NHSRII) launched in December 2023 — an ambitious and transformative initiative aiming to improve both health outcomes and economic potential by drastically reducing Nigeria’s maternal and under-five mortality rates.” 

The estimated approval date for the $500 million loan from the World Bank is September 26, 2024.

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According to the World Bank’s Program Information Document (PID) updated on August 16, 2024, the loan is a key component of the Nigeria Health Sector Renewal Investment Initiative, which aims to enhance the utilization of quality essential health services and strengthen the resilience of the Nigerian health system.

The HSRII, launched in December 2023, is designed to improve health outcomes and unlock Nigeria’s economic potential by drastically reducing preventable deaths through targeted investments in primary healthcare.

The initiative also seeks to fortify community-based service delivery and enhance the capacity of primary healthcare facilities. The program is expected to be a critical step toward achieving universal health coverage in Nigeria, addressing the country’s long-standing issues of inadequate health financing and poor health outcomes.

The World Bank’s involvement is expected to catalyze additional support from other development partners, with the loan forming the bulk of the $570 million total financing package for the program. The remaining $70 million is expected from trust funds.

The Federal Ministry of Health will oversee the implementation of this initiative.

Nigeria seeks $500m World Bank loan for critical health issues