World Bank grants a $400m credit for Nigeria

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The World Bank has granted a $400 million credit for Nigeria, according to a statement issued on Friday.

The increased funding from the International Development Association (IDA) will finance the purchase and distribution of COVID-19 vaccination across the country.

The initial COVID-19 response programme will be extended to provide fair access as Nigeria aims to break the chain of local transmission and restrict pandemic spread.

The credit would cover the procurement of vaccinations for 18% of the population (40 million people) and enable successful deployment for 50% of the population, or about 110 million people.

It will also assist Nigeria in strengthening its health-care systems and preparing for future health-care catastrophes.

Nigeria will have access to vaccinations under the proper conditions, including value for money, regulatory clearances, and delivery time, among other things.

“This will ensure that the government fulfils its objectives to vaccinate 51% of its people in two years,” according to the statement.

According to Shubham Chaudhuri, World Bank Country Director, as Nigeria deals with the effects of a third wave, continuous immunisation of individuals is critical.

Chaudhuri encouraged residents to constantly follow safety precautions in order to avoid the sort of shutdown that occurred in 2020.

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