The Project Development objectives (PDO) of NG-CARES
“To Expand access to livelihood support and food security services, and grants for poor and vulnerable households and firms.”
COVID-19 pandemic resulted in lockdowns, collapse of many economies, loss of jobs and businesses. This further admitted more people into the poor and vulnerable cycle thereby increasing poverty in the country.
In response to this hardship induced by the COVID-19 lockdowns, closure of many SMEs and other economic crisis and in line with the vision of the Federal Government of Nigeria to lift 100 million Nigerians out of poverty in ten years, the Federal Government of Nigeria on behalf of the 36 states and the FCT, sought and obtained assistance of the World Bank for a credit of 750 Million dollars to implement a two year emergency programme, the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG CARES).
The programme is to mitigate the impact of COVID-19 and other crisis on livelihoods of poor and vulnerable households, communities and microenterprises using the finance instrument of Programme for Result (PforR). NG- CARES will leverage on government interventions: Community and Social Development Project (CSDP), FADAMA, Government Enterprise and Empowerment Programme (GEEP), National Cash Transfer Programme (NCTP), Youth Employment and Social Support Operations (YESSO) The NG-CARES Programme is designed to support a budgeted programme of expenditures and interventions at the State level – targeting existing and newly emerging vulnerable and poor households, agricultural value chains, and Micro and Small Enterprises (MSEs) affected by the economic crisis.