W’Bank to disburse $500m loan for Nigeria’s Project BRIDGE
The World Bank has approved a $500 million loan for Nigeria's Building Resilient Digital Infrastructure for Growth (Project BRIDGE) initiative, which will be disbursed in six tranches from 2026 to 2031. The loan is contingent upon Nigeria meeting specific performance conditions, including establishing a private-sector-led Special Purpose Vehicle (SPV) and achieving verifiable progress milestones.The project aims to deepen broadband access and digital inclusion in Nigeria, and funding will operate under a "pay-for-results" model. The SPV must complete at least 5,000 kilometers of fiber network construction and adopt fiduciary and administrative procedures that comply with World Bank requirements.
The conditions for disbursement include:
- Establishing an SPV as a joint venture with private partners selected through a transparent process
- Completing 25,000 kilometers of fiber network rollout
- Launching wholesale open-access broadband services
- Meeting governance and fiduciary standards set by the World Bank
The project is expected to enhance Nigeria's digital infrastructure and promote economic growth.
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