No fewer than 3,000 small-scale business owners in Kwara State are to benefit from the first batch of operational cost grants under the state COVID-19 Action Recovery and Economic Stimulus (CARES) programme.
Speaking with journalists during the commencement of the first phase enumeration for the programme in Ilorin on Monday, Operational Grant Team Lead, Jaiye Jegede, said that the programme is focused on improving the employment rate and ease of running businesses in the state.
The programme, a World Bank initiative to be underwritten by the Kwara state government, is designed to cushion the effects of COVID-19, improve the state of Micro, Small and Medium Enterprises (MSMEs), to boost the local economy and increase the employment rate in Kwara State.
Jegede said that a total number of 4,225 applicants underwent the vetting process for disbursement linked indicator (DLI).
“At the end of the vetting process, over 3,000 successful applicants are currently being contacted for enumeration by agents from the Bank of Industry (BOI),” he said.
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Jegede also said that over 20,000 applicants from across all the 16 local government areas of the state had applied through a hybrid of online and offline registration processes at the Ministry of Business, Innovation and Technology and the Kwara state Social Investment Programmes office.
“Following the registration which was open to all small business owners in Kwara state, over 4,000 successful applicants for the Operational cost grants (also known as disbursement linked indicator 3.2) were contacted by the Bank of Industry who are the implementing partners to fill a vetting form requesting for further information on their businesses,” he added.
The statement explained that the programme would kick-off disbursement with the Operational cost grants also known as DLI 3.2, followed by the Credit grant and IT enhancement grant.
“The programme is focused on improving the employment rate and ease of running businesses in the state,” it added.
World Bank, Kwara provide post-COVID-19 relief grant to 3,000 MSMEs
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World Bank, Kwara provide post-COVID-19 relief grant to 3,000 MSMEs
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