COVID-19: Okowa Lauds FG on NG-CARES
*Launches scheme for MSMEs in Delta
Omon-Julius Onabu in Asaba
Delta State Governor, Dr. Ifeanyi Okowa yesterday lauded the federal government and the World Bank for partnering on the COVID-19 Action Recovery Economic Stimulus (NG-CARES) to provide succour for micro, small and medium-sized enterprises (MSMEs) impacted by the pandemic across the country.
Okowa gave the commendation in Asaba, while flagging off the disbursement of funds to 1,818 persons under CARES scheme, which had been domesticated in the state.
He also announced that the beneficiaries were in the first phase of the programme in the state.
The governor equally lauded the Nigeria Governors’ Forum (NGF) for collaboration with the federal government to accelerate the process for the World Bank’s approval for the implementation of the programme in Nigeria.
In addition, he also expressed appreciation to the World Bank for the timely intervention and for working in close concert with state governments in Nigeria to cushion the socio-economic effects of COVID-19 pandemic on the people, particularly the poor and vulnerable.
Okowa said the commencement of the scheme in the state represents a major step at putting MSMEs severely impacted by the pandemic on the path of recovery and growth with the disbursement of funds to the first set of 1,818 beneficiaries who have met the World Bank eligibility criteria within the initial six months.
The governor said: “A total of 2,529 MSMEs is expected to receive grants to support post-COVID-19 loans, operational costs and to enhance their IT capabilities.
“Indeed, we are glad to be part of the CARES programme of the federal government. The focus of intervention clearly aligns with the priority of the state government to give relief to those whose lives, businesses, jobs and means of livelihood have been distorted by the pandemic.
“The programme, which we have domesticated as the DELTA CARES, is a two-year emergency recovery programme aimed at supporting state governments’ budgeted programme of expenditures and interventions to enable them expand access to livelihood support, food security services, and grants for poor and vulnerable households and firms.”
Moreover, the programme was expected to, “directly support 25,269 poor and vulnerable households with social transfers, basic services and livelihood grants as well as 13,976 farmers to boost food production,” and avoid disruption in food supply value chain.
“The outlined figures are the targets stipulated by the World Bank, but do not preclude the state government from scaling up if the need arises.
“It is my earnest expectation that those charged with the implementation of DELTA-CARES will be faithful in executing the mandate so that the desired results are achieved, bearing in mind that it is a Programme for Result (PforR).”
The Chairman, Steering Committee for Delta-CARES and Commissioner for Economic Planning in the state, Dr. Barry Pere-Gbe, represented by his Youths Development counterpart, Ifeanyi Egwunyenga, commended Okowa for providing the funds for the programme.
“The main focus of the programme is to bring succour to residents in the state whose means of livelihood have been disrupted by the impact of COVID-19 pandemic,” Pere-Gbe noted.
He said the programme was hinged on three thematic areas, ranging from supporting poor and vulnerable households with grants and basic services, to farmers with farm inputs to increase food production and facilitate smooth functioning of the food supply chain, and grants to MSMES to support post COVID-19 loans, operational costs and to enhance their IT capabilities.
Also speaking, Managing Director of Bank of Industry (BOI), Mr. Olukayode Pitan, commended Delta State for sustained interest in growing and developing industries and MSMEs in the state.
The NG-CARES is a partnership with the World Bank targeted at impacting vulnerable individuals and provide food security after the devastation of COVID-19, Pitan said.
He said the BOI remained committed to empowering and supporting the growth of MSMEs with single digit interest loans and moratorium where necessary, adding that the bank had disbursed 772 million dollars to 3.8 million persons in the country in the last five years.
“Thirty out of the 36 states have agreed to work with BOI to implement the programme. We hope that other states will learn from Delta by fast-tracking NG-CARES in the country”, Pitan said, adding that, “MSMEs are a critical component of our national economy due to their prospects of job creation and contributions to the growth of the economy.”
Earlier, the Executive Secretary of Delta State Micro, Small and Medium Enterprises Development Agency, Mrs. Orezi Esievo, explained that the Delta-CARES programme was a business grant given as working capital to existing MSMEs to keep them afloat and boost their businesses in the light of the Coronavirus disruptions.
