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World Bank Approves $400m Loan To Nigeria For Acquisition Of Covid-19 Vaccines

The Board of Directors of the World Bank has approved credit to the tune of $400 Million dollars to Nigeria for the buying of Covid-19 Vaccines. The money is an additional financing from the International Development Association (IDA).

The International Bank announced the approval on Friday at Washington. They said the money was to provide an upfront financing for safe and effective Covid-19 Vaccines acquisition. This is to ensure proper deployment of the Vaccine within the Country.

The money is said to be part of the COVID-19 Preparedness and Response Project which will enable Nigeria to vaccinate at least 51% of its population in two years. This they say will limit the local transmission of the dreaded Virus.

The World Bank in it's statement stated that they have expanded the Covid-19 response program so as to allow for equitable access of the vaccine. It also added that the additional money will strengthen relevant health systems that will create an enabling environment for future health emergencies.

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IDA International Bank International Development Association Nigeria Washington


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