The World Bank has approved a total amount of $750,000,000 to be given to Nigeria for COVID 19 recovery under the COVID Action Recovery and Economic program, CARES.
The FCT will benefit to the tune of US$15 million while all the states will get US$20 million each.
Out of the $735 million, the federal government will get $15 million for logistics in technical assistance and coordination.
This disclosure was made recently by the World Bank representative, Marco Hernandez, Acting Country Director, Nigeria West and Central African Region in the International Conference Centre, Abuja during the FCT CARES steering committee meeting.
Represented by Prof. O. A Oni, World Bank Consultant on Social Protection.
“We are pleased to notify you that the World Bank confirms that, based on review and assessment of the submitted fiduciary and technical requirements and documents by your team that NG CARES has been approved and the Federal Capital Territory, FCT is also eligible to participate in the program, having met all the condition,” the World Bank stated.
He explained further that NG CARES is an emergency program toto state-level efforts to respond to and recover from the COVID socio economic economic crisis programme are to facilitate increased food security and safe function of the food supply chain, facilitate the recovery and enhance capacities of micro and small enterprises.
The FCT CARES steering committee chairmen and FCT Secretary, Economic Planning, Agboola Lukman Dabidi said the intervention would help cushion the economic consequences of COVID 19 by expanding access to livelihood support and food security services and provision of grants for the poor and vulnerable house holds in the FCT.
Others in attendance were Engr. Akin, Onimole, World Bank Procurement Specialist, Abubakar Atiku Musa, Head of Monitoring and Evaluation, Federal Care Support Unit Abuja, Akwa Basi Snr. Operations Officer Social Transfer/Livelihood Support as well as the Logistics Person for the Technical Mission.
