The World Bank has announced plans to restructure the financing of the $430 Nigeria Digital Identification for Development (ID4D) project to avoid truncation.
This would enable the Bank to guarantee complete disbursement of the $430 million pledged for the project by the financiers.
The restructuring became necessary after Nigeria missed the June 30, 2024 deadline for the completion of the project and co-financiers, the French Development Agency (AFD), and the European Investment Bank (EIB) threatened to cancel their financing if the World Bank ceased to be the implementer of the project after June 30, 2024, initial closure date for the project.
