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COVID-19: World Bank Approves Nigeria’s $750m

COVID-19: World Bank Approves Nigeria’s $750m

The World Bank has approved $750 million for Nigeria’s COVID-19 Action Recovery and Economic Stimulus, NG-CARES, Programme. Jamb Results

In a report filed by DAILY NIGERIAN, this was disclosed by the Chairman of Federal CARES Technical Committee, Aso Vakporaye in Abuja. Information Guide Nigeria

According to Vakporaye, this was contained in a letter which the Country Director of World Bank Office in Nigeria, Shubham Chaudhuri sent to the Minister of Finance, Budget and National Planning, Zainab Ahmed.

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Under this programme, Mr Vakporaye said each of the 36 states will receive an allocation of $20 million while the Federal Capital Territory will receive $15 million.

While speaking on the importance of NG-CARES Programme, He assured the people that President Muhammadu Buhari has promised to redeem 100 million people from poverty in 10 years adding that the NG-CARES Programme is one of the ways this can be achieved.

He stated that the Federal Government had met all the conditions for eligibility for the credit line, having sought the assistance of the World Bank in funding its people-centred Post COVID-19 Economic Sustainability Plan.

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Idongesit Akpa-Ayang

Idongesit is a graduate of Communication Arts, University of Uyo. Currently working as a news reporter at InfoGuide Nigeria.

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