The World Bank has announced a £500 million grant to support Nigeria’s recovery efforts from the impacts of the COVID-19 pandemic.
The funds will be allocated through the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES) programme, according to the News Agency of Nigeria.
Launched in 2021, NG-CARES aims to assist poor and vulnerable households and micro-small enterprises affected by the pandemic.
Speaking at an event in Port Harcourt, Rivers State on Tuesday, World Bank Task Team Leader for NG-CARES, Dr Lire Ersado, said the grant would also contribute to Nigeria’s broader economic recovery initiatives.
“The World Bank will continue to support NG-CARES for the next three years, and this support may extend further with backing from the government,” he added.
“The NG-CARES programme aims to promote economic resilience and provide stimulus to communities impacted by the COVID-19 pandemic.”
