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From Tony Osauzo, Benin
Edo Ministry of Wealth Creation, Cooperatives and Employment Permanent Secretary, Joel Edionwe, has disclosed the state will spend over N3 billion to implement its COVID-19 Action Recovery and Economic Stimulus Programme, a component of Nigeria Cares World Bank Support Programme.
Briefing journalists in Benin, yesterday, the permanent secretary explained that under the programme, Edo State government will provide up to 40 percent grants to support businesses affected during the COVID-19 lock-down.
“What they will get from Edo government is a grant to repay the loans they took for their businesses affected by the pandemic. We do not need to lament COVID-19 effect, we must address them,” he said.
The permanent secretary said the total package the World Bank support programme for Nigeria is $750 million, adding that its implementation would run from 2021 to 2022.
He further disclosed that his ministry has trained over150 agents to capture the data of businesses in Edo State, explaining that the programme is running in partnership with the Bank of Industry that would carry out due diligence before shortlisting qualified businesses and disbursement of funds.
