The World Bank has greenlit a $500 million loan to support the Sustainable Power and Irrigation for Nigeria (SPIN) initiative to reduce the challenges of climate conditions.
Chakib Jenan, World Bank Regional Director for Sustainable Infrastructure Development in West and Central Africa, announced this during a visit to the Minister of Water Resources and Sanitation in Abuja on Thursday.
Genan said the SPIN project was approved by the World Bank’s board of directors on September 26, adding that it is scheduled to begin in January 2025.
He added that the project is designed to address climate-related issues such as flooding and drought through strengthening dam safety, improving water resource management and expanding irrigation services.
Mr. Janeh said the project would benefit about 950,000 people, including farmers and livestock keepers, and stressed the need for Nigeria to continue preparing to meet the remaining conditions for the project to take effect by the target date. did.
The World Bank team also provided an update on the Transforming Irrigation Management in Nigeria (TRIMING) project, which is nearing completion.
The team also presented an update on the Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene (SURWASH) program and emphasized the importance of involving more states in this effort.
Mr Genan encouraged the Ministry to consider establishing a National WASH Fund, a key objective of the Disbursement-Linked Indicator (DLI) 1 of the SURWASH programme.
The Minister of Water Resources and Sanitation, Professor Joseph Utseff, expressed gratitude to the bank for its continued support to Nigeria’s development, especially in sustainable infrastructure and water resources management.
He assured the delegation that the Nigerian government would provide counter-finance support to ensure the successful implementation of all World Bank-supported projects.
Mr. Utsev also emphasized the importance of completing the TRIMING project on time and reaffirmed the Ministry’s commitment to meeting the January 2025 deadline.
Dr. Bello Goronyo, Minister of Water Resources and Sanitation, also expressed his gratitude for the World Bank’s approval of the SPIN project and reiterated his ministry’s commitment to the project through collaborative efforts.
