There are various information reported on several medium on disbursement of Nigeria COVID-19 Action Recovery and Economic Stimulus to applicants. The NG-CARES Disbursement of Fund to Applicants have been reported and this have received wide jubilation among applicants.
The social media have been agog to this development as several media have reported. The disbursement of fund to applicants can’t be ascertained and authenticated at the moment.
Applicants are advised to be acreful of such as not to fall prey of scammers pretending to be agent of World Bank or NG-CARES.
Abstract Details of NG-CARES – NG-CARES Disbursement of Fund to Applicants
The development objective of COVID-19 Action Recovery and Economic Stimulus Program Project for Nigeria aims to expand access to livelihood support and food security services, and grants for poor and vulnerable households and firms.
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This program Document outlines a proposed Program-for-Results (PforR) operation in the amount of seven hundred fifty million to support the states of the Federal Government of Nigeria (GON) in their efforts to mitigate the impact of the Coronavirus (COVID-19) pandemic on the livelihoods of poor and vulnerable households and microenterprises in the country.
The PforR is a short-term response to the economic and Coronavirus disease (COVID-19) crisis affecting Nigeria and is designed to support budgeted government interventions at the state leve targeting existing and newly vulnerable and poor households, farmers, and micro and small enterprises (MSEs) affected by the economic crisis.
The program outlines a two-year financial support to the states to fulfill program objectives in three key results areas:
(a) increasing cash transfers and livelihood support to poor and vulnerable households;
(b) increasing food security and safe functioning of food supply chains for poor households; and
(c) facilitating recovery of MSEs, while strengthening institutional support for coordination and delivery through a separate Investment Project Financing (IPF) component. It is fully aligned with the forthcoming World Bank 2020-2024 Country Partnership Framework (CPF) for Nigeria, as well as Nigeria’s economic reform and growth plan for 2017-2020 and the government’s Economic Sustainability Plan (ESP) to respond to the economic crisis induced by Coronavirus (COVID-19).
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