The Federal Government has disbursed 900 Million naira in Borno to mitigate COVID-19 impact under the country’s Action Recovery and Economic Stimulus NG-CARES programme.
The Minister of State for Finance, Budget and National Planning, Clem Agba said this during the Ministerial Town Hall Meeting for stakeholders in Borno and Yobe in Maiduguri.
Agba who was represented by National Coordinator of NG-CARES Abdulkareem Obaji, said that the Programme was a 750 million dollar-World Bank assisted Multi-Sectoral Programme, launched by President Muhammadu Buhari in July 2020.
He explained that it is an initiative of the State Governments with support of the Federal Government within the framework of the Economic Sustainability Plan ESP.
He said that each state was eligible to draw-down 20 million dollars ex-ante and the FCT 15 million dollars within the two-year span of this emergency intervention.
He explained that it was designed to provide immediate relief to Poor and Vulnerable Individuals and Households, Small-holder Farmers and Micro and Small Enterprises MSEs that were adversely affected by the COVID-19 Pandemic.
