Covid-19: States To Get The Sum Of $1.5bn From World Bank — Zainab Ahmed.
The World Bank has got a proposal of 1.5 billion dollars to states as part of economic stimulus to cushion the impact of the COVID-19 pandemic, says Minister of Finance, Zainab Ahmed.
Ahmed briefed State House correspondents on Thursday after the virtual National Economic Council (NEC) meeting anchored from the Presidential Villa, Abuja.
The first ever virtual NEC meeting and the fourth for the year, was presided over by Vice President Yemi Osinbajo
“The World Bank maintains that the impact of the COVID-19 on Nigeria will lead to severe amplified human and economic cost, which will move the country into a recession.
“The World Bank planned a proposed package for immediate fiscal relief for the FG.
“This will also involve policy-based policy budget support for the Federal Government, focusing on measures to maintain macro financial stability and create fiscal space for proposed stimulus.
“The World Bank package has also got a proposal of 1.5billion dollars for the states and this package will be dedicated to the states and it will be a programme for results which the states are already used to implementing.’’