More than 1,818 people benefit from Coronavirus funds in Delta | The Guardian Nigeria News


[FILES] Governor of Delta State, HE Sen. Dr. Ifeanyi Arthur Okowa. Photo / Twitter / GovIfeanyiOkowa

As the World Bank and the federal government work to mitigate the socio-economic impacts of the COVID-19 pandemic on poor and vulnerable people, as many as 1,818 people have received grants worth several million to boost their businesses in Delta State.

The World Bank project, which relied on the Economic Stimulus of COVID-19 Action Revival (NG-CARES), was reported to Asaba as part of the Delta Cares program to help micro, small and medium-sized enterprises (MSMEs) affected by the pandemic in the country.

Governor Ifeanyi Okowa, who announced the disbursement of the funds, said the beneficiaries were those captured during the first phase of the program in the state.

Okowa commended the Nigeria Governors Forum (NGF) for supporting the federal government in ensuring the program is approved and applauded the World Bank for its intervention.

He revealed that the program was designed to cushion the socio-economic effects of the COVID-19 pandemic on people, especially the poor and vulnerable, adding that around 2,529 MSMEs would receive grants to support post-lending. -COVID-19, operational costs and improve their IT capacity.

He added that the program would also support 25,269 poor and vulnerable households with social transfers, basic services and livelihood subsidies as well as 13,976 farmers to boost food production and ensure the smooth functioning of the food chain. food supply.

Also speaking, Bank of Industry (BOI) Managing Director Olukayode Pitan said NG-CARES was a partnership with the World Bank targeting vulnerable people and ensuring food security following the COVID-19 pandemic .

Pitan, who congratulated Delta on being the first state to launch the NG-CARES program in the country, ensured the bank’s commitment to empower and support the growth of MSMEs with loans at low interest rates. figure and a moratorium.

He explained that the BoI had paid $ 772 million to 3.8 million people in the country over the past five years, adding that 30 of the 36 states in the federation had agreed to work with the BoI to implement the program.


About Christopher Easley

Check Also

Alaska Native nonprofit puts culture at the forefront of substance abuse prevention

CITC organizes berry picking outings for youth as part of its drug prevention services. (Photo …

Leave a Reply

Your email address will not be published.