World Bank approves USD 250 million to Niger for human capital development

The Board of Directors of the World Bank has approved a total amount of USD 250 million in International Development Association (IDA) credit to help Niger develop its human capital and to mitigate the impact of the COVID-19, according to a news report by India Education Diary.

The Second Laying the Foundation for Inclusive Development Policy Financing (DPF) is the last operation in a programmatic series aimed at reducing gender gaps and providing cash transfers to households that are mostly affected by COVID-19.

The program will also help expand access to electricity and potable water, improve debt management and transparency, and reduce fiscal risks.

"The new program will help the Government pursue the reforms started to create enabling conditions for sustained and accelerated medium-term growth and tackle key structural challenges related to stark gender inequality and low access to key infrastructure," said Joelle Dehasse, World Bank Country Manager for Niger.

"This operation has been adjusted to reinforce actions that complement the government's efforts to mitigate the impact of the CODIV-19 pandemic."

The World Bank's International Development Association (IDA), established in 1960, helps the world's poorest countries by providing grants and low to zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people's lives.