Sokoto state is set to benefit from a $20 million from the World Bank to enable it reinvigorate its economy lashed by the vagaries of COVID-19 pandemic.
The Commissioner for Commerce and Industry, Bashir Jegawa, who is also the State Focal person for the COVID-19 Action Recovery and Economic Stimulus Program For Results (Nigeria CARES) program, disclosed this in Sokoto on Friday.
The facility, which is being packaged by the Federal Ministry of Finance and the Nigeria Governors’ Forum (NGF), would be enjoyed by the 36 states of the federation, including Sokoto.
Briefing the state Executive Council about the program on Thursday, Jegawa said that the disbursement linked indicators (DLIs) for the two years emergency operation facility, showed that 38,215 beneficiaries will be targeted under three ‘result areas.’
These include “existing and newly vulnerable as well as poor households, their food chains; and micro and small enterprises affected by COVID-19 impact.”
According to the breakdown, 3,510 individuals ‘disaggregated by vulnerabilities,’ 33,390 ‘farmers receiving improved seeds,’ and 1,315 ‘firms receiving grants for operational and employment support (fixed grants and wage subsidies),” are the focus of the project.
Billed to kick-off between March and April this year, the project is expected to provide cash transfers and livelihood support to poor and vulnerable households, increase food security, prevent collapse of small businesses and “strengthen institutional support for coordination and delivery.”
