Each Nigerian State To Get $20m Out of $750m World Bank Grant - FG
The Minister of State for Budget and National Planning revealed FG's plan for the disbursement of the $750 million World Bank grant in Abuja.
President Muhammadu Buhari
The Federal Government has revealed plans to give $50 million to each Nigerian state from $750 million World Bank grant under the National COVID-19 Action Recovery and Economic Stimulus, NGCARES.
The Minister of State for Budget and National Planning, Clem Agba, disclosed plans for the disbursement of the $750 million World Bank grant under the National COVID-19 Action Recovery and Economic Stimulus, NGCARES.
The minister made the disclosure in Abuja while receiving 40 NGCARES’ operational vehicles to subnational governments from the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouq.
According to Mr Agba, under the arrangement, each State will receive the sum of $20 million over a period of two years while the FCT will get $15 million and the Federal Care Support gets $15 million with effect from June 30, 2021.
He said: “The Federal Government has approved the Nigeria COVID-19 Action and Recovery and Economic stimulus programme which is a multi-sectoral programme designed to provide immediate emergency relief to vulnerable and poor Nigerians, small holder farmers, and small and medium enterprises that were adversely affected by COVID-19 pandemic using the World Bank grant of $750 million over a period of two years which is from 2021-2023.”
Mr Agba thanked Mrs Umar-Farouq for the special role played by the Ministry of Humanitarian Affairs, Disaster Management and Social Development for her untiring efforts and facilitatory role played by the agencies under her supervision in the preparatory activities of the N- Cares Programme.
While handing over the vehicles, Mrs Umar-Farouq applauded the World Bank for coming to the aid of the poor and vulnerable people of Nigeria affected by the Covid-19 pandemic.
She said the 40 operational vehicles are for onward distribution to Coordinators of the State NG-CARES.
According to her, the NG CARES is the Federal Government initiative with support from the World Bank to mitigate the effects of the COVID 19 pandemic.