FG seeks fresh $1bn from World Bank

The Federal Government is in talks with the World Bank to complete the processes of obtaining over $1 billion in loans to address the challenges facing Internally Displaced Persons and their host communities, as well as bolster rural access and agricultural marketing in the country.

The request is contained in a recent World Bank document titled, ‘Solutions for the Internally Displaced and Host Communities Project’ and ‘Rural Access and Agricultural Marketing Project – Scale Up.’

Accordingly, while the IDPs’ loan is put at $500m, the rural access and agricultural marketing project loan is estimated at $550m.

The fund is expected to provide help to communities in Nigeria badly affected by insecurity.

“The proposed project will utilise a three-pronged approach to develop sustainable solutions for IDPs and host communities in Northern Nigeria.

“First, the proposed project aims to provide tailored solutions for each of the targeted states and communities, recognizing that each internal displacement situation is specific and localised, with conflict, violence and/or climate challenges presenting a different level and set of vulnerabilities for host communities.

“Gender, age, and special needs of individuals also play a role, as well as the length of displacement, number of times displaced and other factors.

“Thus, responses will be adapted to address the specific needs of vulnerable populations within displacement-affected states and communities. Second, the proposed project will follow a ‘People-in-Place’ approach, integrating the needs of the people and the impacts on the place where they settle,” the document stated.