Nigeria

Nigeria set to implement $750 million World Bank coronavirus intervention

He said the World Bank’s Country Director in Nigeria, Shubham Chaudhuri, had, in a letter to the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the Federal Government had met all the conditions of eligibility of the credit.

The Federal Government says the 36 states and Federal Capital Territory are ready to start implementation of the World Bank-assisted $750m Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) Programme.

Chairman, Federal CARES Technical Committee, Aso Vakporaye, in a statement on Tuesday, said the World Bank was satisfied with the readiness of the states and the FCT to commence the programme.

He said the World Bank’s Country Director in Nigeria, Shubham Chaudhuri, had, in a letter to the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the Federal Government had met all the conditions of eligibility of the credit.

The Federal Government had sought the assistance of the World Bank in funding its people-centred Post COVID-19 Economic Sustainability Plan.

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