Nigeria has maintained its position as the third-largest borrower from the International Development Association (IDA), the World Bank's concessional lending arm. As of March 31, 2026, Nigeria's exposure stood at $18.5 billion, a slight decrease from $18.7 billion at the end of December 2025.
This quarterly decline of $200 million, or 1.1%, contrasts with a significant year-on-year increase. Nigeria's debt exposure grew by $1.2 billion, or 6.9%, from $17.3 billion in March 2025, underscoring the country's ongoing reliance on concessional financing.
The latest financial statements from the IDA show Bangladesh as the largest borrower with $22.7 billion, followed by Pakistan at $19.2 billion. Nigeria ranks third with its $18.5 billion exposure.
Other major borrowers include Ethiopia ($14.4 billion), Tanzania ($14.3 billion), and Kenya ($13.2 billion). Nigeria's exposure represents approximately 8.0% of the IDA's total loan portfolio, which stood at $230.8 billion as of March 31, 2026.
The IDA's lending portfolio saw a marginal decrease in the first quarter of 2026, falling to $230.8 billion from $231.1 billion at the close of 2025. Loans in non-accrual status were minimal, accounting for only 0.4% of the portfolio, with provisions for potential loan losses at $6.3 billion, or 2.0% of underlying exposures.
A notable aspect of the IDA's lending is its concentration. The ten largest country exposures accounted for 60% of the total portfolio as of March 31, 2026, indicating a significant portion of lending directed towards a select group of developing economies.
