The World Bank Board has approved $750m to strengthen the Business Enabling Environment in States through the State Action for Business Enabling Reforms (SABER) programme.
The SABER is a 3-year performance-based intervention jointly designed by the Presidential Enabling Business Environment Council (PEBEC) Secretariat and the World Bank Technical team with support from the Federal Ministry of Finance, Budget and National Planning (FMFBNP) Home Finance Department and the Nigeria Governors’ Forum (NGF) Secretariat.
According to the Special Adviser to the President, Ease of Doing Business/PEBEC Secretary, Dr Jumoke Oduwole the programme, which is open to all States and the FCT, cuts across four reform areas.
These are disbursement linked Indicators covering; improving land administration and land investment process; improving the business enabling infrastructure; increasing sustainable large-scale investments; and enabling firm operations.
With the approval, she said all participating states and the FCT could potentially receive a maximum of $52.5m during the 3-year period.
“There have been extensive engagements with the States by the PEBEC Secretariat and other programme partners to strengthen the programme design and the State’s capacity to deliver on the expected results,” she said.
To ensure continuity of the programmes, she said every project embarked upon by the Secretariat has a legal binding.
“So for instance, you would have known that the World Bank just approved a $750 facility for state governments for business climate, that’s part of our work and that’s a legally binding contract. The legislation we do is also legally binding, so it’s not personalised to one government but the teams that do the work, there’s training,” she added.
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World Bank approves $750m to strengthen business enabling environment in states
