World Bank approves $611m credit for out-of-school programme

Th e World Bank has approved a credit of $611 million to support the country in bringing back children, who were out-of-school in the past years. Th e bank also approved a $350 million credit for Kaduna State Economic Transformation Programme, which focuses on enhancing private sector investment in Kaduna State. Th e Head of Communications, World Bank, Nigeria, Olufunke Olufon, in a statement yesterday in Abuja, said that investment in the two programmes were to the tune of $961 million.

She said that the gesture was to support the federal and state authorities in their eff orts to foster inclusion and revive growth, in alignment with the Economic Recovery and Growth Plan (ERGP) of the federal government. “Th e $611 million to Better Education Service Delivery for All (BESDA) Programme aims to bring out-of-school children into the classroom, improve literacy, and strengthen accountability for results in basic education. “In 2013, 13.2 million schoolage children were out of school; the overwhelming majority of which is in the North where out-of-school children rates are also higher among girls, in rural areas and from poor families,” she said.

“Th e $350 million credit focuses on enhancing private sector investment in Kaduna State through improved business environment, eff ective budget planning and execution and fi scal accountability. Th e statement also quoted the World Bank Country Director for Nigeria, Rachid Benmessaoud, as saying both operations implement results-based fi nancing, whereby disbursement of funds is linked to the achievement of tangible, verifi able results. “As fi rst phase for addressing outof-school children in Nigeria, BESDA, aims to help enhance the eff ectiveness and effi ciency of the federal Universal Basic Education (UBE) Programme. (NAN)

Leave a Reply