The World Bank allocated $750 million to Nigeria last year to help small company owners. At the commencement of the NG-CARES national program in Abuja, Vice President Yemi Osinbajo, SAN, made it obvious.
NG-CARES is a multi-sectional initiative that includes the Government Enterprise and Empowerment Programme (GEEP), as well as other government-sponsored programs such as State Cash Transfer Units, Agricultural Development Agencies, and Job Creation Units/MSE Support Units (GEP).
According to Prof. Osinbajo, the program will focus on the poor people of the country.
“NG-CARES programme is designed to support the poor and poor in Nigeria, and provide emergency aid to small farmers and business SMEs affected by the Covid-19 pandemic.”
The World Bank account will be open for two years, from 2021 to 2023, with each state receiving $20 million, the FCT $15 million, and the NG CARES Support Unit $1 million. The program will be delivered through the Results-PforR delivery mechanism in 5.5 states.
The World Bank’s NG-CARES program aims to help Nigerian businesses recover from the consequences of the Covid-19 and other issues.
Amounts ranging from 100,000 to one million naira have been donated.
Traders who register their businesses with the Business Administration will be given a sum of money ranging from one million to a million dollars.
To be eligible for this grant, you must first complete business training at SMEDAN or NDE, both of which are approved by the federal government.
You will visit the Ministry of Commerce and Industry in your state with any of your ID cards, EDI Certificate (EDI Certificate is given after training and if you are trained for AGSMEIS LOAN, please travel to the ministry with the certificate, as this training will not be available again), and EDI Certificate (EDI Certificate is given after training and if you are trained for AGSMEIS LOAN, please travel to the ministry with the certificate, as this training will not be available again.
After you present your CERTIFICATE at the ministry, you will be given a form to fill up with personal and business information.
Wait for more instructions and disbursement from the government on how to proceed with your applications. Please note that this program is not available online and is completely free!
Requirements
- Voters card or national card or driver’s license
- Bank Verification Number (BVN)
- CAC Registration Documents
- Tax Identification Number (TIN)
Source: Nyscinfo
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