FG to access $750m World Bank loan for states

The Federal Government has commenced the process of accessing a $750million World Bank loan on behalf of states.

This is to stimulate local economy and support vulnerable households to mitigate the effect of COVID-19.

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The Minister of Finance, Budget, and National Planning, Mrs. Zainab Ahmed, disclosed this during the inauguration ceremony of the Federal Steering Committees of the Nigerian COVID-19 Action Recovery and Economic Stimulus (N- CARES) in Abuja.

Speaking on the need for proper implementation, Ahmed said, “Government has carefully selected members of the federal steering and technical committees because of the important role ministries, departments and agencies play in the recovery of the Nigerian economy, as well as the fulfillment of lifting 100million people out of poverty.”