ABUJA – The Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) Programme is set to release N79 billion to States and FCT as a refund to assist in the implementation of the programme and reduction of poverty in the country.
This was made known in Abuja, when a four-man team from NG-CARES paid a “Thank you “ visit to the Minister of State, Budget and National Planning, Prince Clem Ikanade Agba.
The NG-CARES Programme is a World Bank- State support operation with the objective “to expand access to livelihood support and food security services and grants for poor and vulnerable households and firms.”
The team was led by the World Bank Task Team Leader for NG-CARES, Prof. Foluso Okunmadewa, the Chairman Federal CARES Technical Committee, Mr Aso Vakporaye and the National Coordinator NG-CARES, Dr Abdulkarim Obaje.
The team briefed the Minister on the implementation of the NG-CARES Programme and also thanked him for the support the NG-CARES Programme is getting from the Ministry.
They informed the Minister of the submission of the Report of the Independent Verification Agents (IVA) exercise to the states and FCT.
The report, which was validated by the Federal CARES Technical Committee, is to be used to reimburse the 36 States and FCT Governments for funds expended on the implementation of the NG-CARES Programme.
The programme uses Performance for Result (Pfor R) which means states and FCT would have to expend their resources on programmes that target the poor and vulnerable.
Once the results are verified and found to be in line with the verification protocol, states and FCT then get reimbursement.
“It is, indeed, heartening to know the commitment of the World Bank to the $ 750 million intervention to address very critical areas of the local economy and the needs of the poor and vulnerable,” the minister said.
Chibuzor Emejor is a correspondent with Independent Newspapers.