Left Menu
Development News Edition

Nigeria approves USD 150 million World Bank loan to fight polio

Reuters | Updated: 08-08-2018 19:26 IST | Created: 08-08-2018 19:03 IST

Nigeria has approved a $150 million loan from the World Bank to help eradicate polio and scale up immunization, Finance Minister Kemi Adeosun said on Wednesday.

After a global effort to wipe out polio, there were just 22 cases on earth last year, down from 350,000 30 years ago, according to the World Health Organization. But until the disease is fully eradicated there is always a risk it could return, putting children at risk worldwide.

Nigeria was on the verge of eradicating the virus but recorded its first case in two years in 2016.

It is now one of only three countries left on earth where polio still exists, along with Pakistan and Afghanistan, the WHO says. Nigeria has recorded no new cases in 21 months and could be certified polio-free by July 2019 if none are found.

The 20-year loan comes with a 1.25 percent interest rate and no payments are due for five years. The funds would be applied in 12 states, mostly in the northern part of Nigeria, some of which have been hit by Boko Haram insurgency.

Adeosun said the World Bank loan would help the government achieve and sustain at least 80 percent oral polio vaccine coverage in every state in Nigeria and improve immunization as part of a global polio eradication effort.

Billionaire Microsoft co-founder Bill Gates told Reuters in March that his Bill & Melinda Gates Foundation was pushing vaccination against polio in conflict-hit northeast Nigeria and Chad, and has committed $1.6 billion so far in Nigeria, its biggest investment in Africa.

In June, the World Bank approved a total of $2.1 billion in concessionary loans to fund projects in Nigeria.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Pride in the time of coronavirus: a welcome move online?

This year is different in many ways not least as celebrations are also taking place against the dramatic backdrop of a global health crisis and a resurgence in grassroots activism following the death of George Floyd in Minneapolis. ...

COVID-19: Weighing up the benefits and limitations of edtech platforms

Edtech companies shouldnt focus on merely pushing contents, but to provide an interactive, effective teaching and learning environment. ...

Shipping industry's COVID-19 resilience test could boost digitalization

The push towards digitalization in shipping industry was already happening and has been further accelerated by the pandemic as current practices are not tenable under present circumstances and would definitely not be in the future....

Health is pure science but why objectivity eludes WHO

We certainly need a global body to coordinate responses against health emergencies. However, this sheer need of humanity on this planet should not be milked by the World Organization WHO to overshadow constructive criticism and call for ref...

Videos

Latest News

China hails Russian referendum as reflection of people's choice

China said on Thursday that Russias national referendum on constitutional amendments, which will allow President Vladimir Putin to stay in power till 2036, was a major event reflecting Russian peoples choice. Nearly 78 per cent of voters in...

Emami Agrotech expects e-commerce, modern trade to contribute up to 12% biz

Emami Agrotech Ltd, which is mainly into the edible oil business, expects e-commerce and modern trade channels to contribute around 10-12 per cent of its total sales, a company official said on Thursday. The Emami group company, which has a...

Pulwama terror attack: NIA arrests one more accused

The NIA arrested one more accused on Thursday in connection with last years Pulwama terror attack, in which 40 CRPF personnel were killed, an official said. Mohammad Iqbal Rather 25, a resident of Jammu and Kashmirs Budgam, had allegedly fa...

Report: Patriots guarantee Newton only $550K

New England Patriots quarterback Cam Newton is guaranteed only 550,000 under terms of his incentive-heavy deal, NFL Network reported Thursday. Newton, released by the Panthers in March, is recovering from foot surgery and would have made 19...

Give Feedback