Release date: 22 October 2024
Promoter – Financial Intermediary
FEDERAL REPUBLIC OF NIGERIALocation
Description
The project will finance investments in gully erosion control, slope stabilisation, integrated watershed management and livelihoods improvement.
Objectives
The aim is to support the Climate Adaptation process for Nigeria with capacity building on the planning, management, monitoring of watershed, erosion-related activities and disaster risk management. The overall objective is to reduce vulnerability to soil erosion and improve population livelihood in targeted watersheds in several states of the country in the context of adaptation to climate change.
Sector(s)
- Water, sewerage - Water supply; sewerage, waste management and remediation activities
Under Global Europe NDICI guarantee
Under EFSD+ Guarantee
Proposed EIB finance (Approximate amount)
EUR 175 million
Total cost (Approximate amount)
EUR 578 million
Environmental aspects
A Resettlement Policy framework has been developed as well as an Environmental and Social Management Framework. Each subproject will be subject to an environmental screening to determine in which environmental category it falls into and in addition, a Resettlement Action Plan or an Abbreviated Resettlement Action Plan will be prepared to the satisfaction of the Bank before moving to implementation.
Procurement
The EIB will require the promoter to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.
Status
Signed - 29/12/2020
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).