In its drive to boost Nigeria’s economy, the federal government has founded NG-CARES programme implementation with N311, 250 trillion World Bank loan.
Nigeria’s Vice President, Yemi Osinbajo, on Thursday, 20, 2022 disclosed this during the take-off of the programme in Abuja.
According to Osinbajo, the initiative is targeted at the country’s poor.
He said NG-CARES programme is designed to support the poor Nigerians, give immediate emergency relief to smallholder farmers and SMEs that have been impacted badly by the COVID-19 pandemic.
He revealed that the plan was built within the context of the country’s response to the pandemic crisis and the ESP will serve as the bridge.
Osinbajo said that the World Bank loan will last for two years (2021-2023), with each state getting N8.2 billion based on the forecast, the Federal Capital Territory getting N6.2 billion, and the Support Unit of NG-CARES receiving N6.2 billion each.
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World bank gives Nigeria Government $311.2 Trillion to share for poor Nigerians
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