Some World Bank intervention programmes through the Nigeria COVID-19 Action Recovery Economic Stimulus (NG-CARES) are to benefit 1,073 Micro Small and Medium Enterprises (MSMEs) in Adamawa State, Nigeria.
This was disclosed by the Project Manager, Hajiya Aishatu Bello, who added at a news conference on Friday in Yola, that those to benefit are those already in the business and affected as the result of COVID-19 challenges.
Hajiya Bello said the programme would be handled by the Agency for Community and Social Development for Lively Support, FADAMA for Food Security and Poverty Alleviation and Wealth Creation Agency (PAWECA) for MSMEs as results area one, two and three respectively.
“For the MSMEs under PAWECA, the programme intends to impact on 1,073 MSMEs, as a government agency, we consider micro businesses are more vulnerable and they are of wider range .
“Then we decided that 70 per cent of the grant is going to micro businesses and 30 per cent will going to small business,” she said.
She said that some of the conditions included that the business most be viable, vulnerable, verifiable and with formal registration with Cooperate Affairs Commission (CAC).
“Therefore this is a World Bank supported programme of government and there must be rules and regulations for the beneficiaries.
“We have free application forms and for transparency, we are going to have application portal for the applicants to register online,” she said.
According to Bello, the programme will last for two years and she urged support of all stakeholders for the success of the programme in the state