The World Bank has disbursed $751.88 million to Nigeria from a recently approved $1.5 billion loan.
According to findings by Nairametrics, the amount was disbursed under the Nigeria Reforms for Economic Stabilization to Enable Transformation (RESET), Development Policy Financing Program (DPF) project.
This loan project is a part of the broader $2.25 billion approved by the World Bank for Nigeria on June 13, 2024, to boost reforms in the country.
The $1.5 billion loan comprises two separate agreements between Nigeria and the World Bank: An International Development Association (IDA) credit of $750 million and an International Bank for Reconstruction and Development (IBRD) loan of $750 million.
The amount disbursed includes the entire $750 million from the IDA loan and $1.88 million from the IBRD of the World Bank, with an undisbursed balance of $748.13 million
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