The Federal Government of Nigeria has received financing in the amount of US$ 750,000,000.00 equivalent from the World Bank toward the implementation of the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) Programme.
The NG-CARES Programme is a multi-sectoral intervention designed to provide immediate emergency relief to poor and vulnerable individuals and households, Smallholder Farmers and MSEs that were adversely affected by COVID-19 pandemic. It is a two-year budget support operation to be implemented from 2021-2023. NG-CARES Programme is implemented using the World Bank Programme for Results (PforR) financing instrument at the State level and Investment Project Financing (IPF) at the Federal level. 98% of the resources are allocated to the States and FCT and implemented through existing platforms such as National Cash Transfer (NCT), Youth Employment and Social Support Operations (YESSO), Community and Social Development Project (CSDP), National Fadama Development Project and Government Enterprise and Empowerment Programme (GEEP).
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