World Bank’s $750 Million Grant & Loan Facility for MSMEs in Nigeria

According to the Ministry of Finance, they’ve announced that the 36 states of the federation & the Federal Capital Territory (FCT) are yet to access World Bank’s $750 Million grant & loan facility. Here, you’ll find out ways of accessing these loans & grants facility, which was all our research from scratch.

According to a statement signed by the S.A to the Minister of Finance on Media & Communications, Mr. Paul Ella Abechi said that this was made known by the Minister of Finance, Mrs. Zainab Shamsuna Ahmed while addressing the 7th CoP made up of state Commissioners of Planning & Budgeting in  Abuja.

Mrs. Ahmed visualized that states will continue with their fiscal responsibility, which will serve as a platform to access the World Bank’s loans & grants.

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The Cop meetings enhance the state commissioners of Planning & Budget’s capabilities in performing their functions & serve as platforms for facilitating peer learning & information exchange, strengthening coordination, collaboration & networking.

See more details about the World Bank $750 Million Grants & Loans Facility in the following section below, and also don’t forget to share for others to be acquainted with this update.

World Bank’s $750 Million Grant & Loans Facility – Details

The Minister of Finance disclosed that:

…during the course of these meetings, we had the benefit of hosting the World Bank and several other communities, including the Governors’ Forum.

 

During the course of this exercise, the Ministry of Finance had to, according to the instruction from President Mohammad Buhari, provided interventions to the state because to an extent, states were not able to pay workers’ salaries.

The minister added that “this year was so good that the World Bank said this group has done well and therefore we are going to give World Bank $750million grant in the form of concession loans and grant which will be available soon for the states to access

Also, she informed the states that:

We are in the process of going to the Federal Executive Council (FEC) to get the approval; the World Bank on its own has already approved this and others.

 

So we hope that you will continue to implement your fiscal responsibility so that you will qualify for this facility as well as the grant

Moreover, she charged the CoP to make monitoring the process of implementation of the budget a cardinal objective, because it could benefit & enhance what they are doing to improve the standard of living of the people within states.

For further updates regarding the World Bank’s $750 Million Grant, feel free to leave a comment below so we could take note of your email, and send you updates once there is one.

Grants like this are always updated from time to time keep visiting this page on this website and don’t forget to share, which can possibly benefit others in need of this grant too.

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Frequently Asked Questions about World Bank’s $750 Million Grant

Who controls the World Bank?

Member countries govern the World Bank Group through the Boards of Governors and the Boards of Executive Directors. These bodies make all major decisions for the organizations. To join & become a member of the Bank, under the IBRD Articles of Agreement, a country must first join the International Monetary Fund (IMF).

How many countries are in the World Bank?

With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership.

How much money is in the World Bank?

According to IBRD’s net investment portfolio, it was $82.1 billion as of June 30, 2022, compared to $85.8 billion a year earlier, with the liquid asset portfolio remaining well above the prudential minimum liquidity level.

For further evaluation and updates, feel free to visit this page often here at Start Easy Crypto, and don’t forget to share or leave a comment below for informational purposes.

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