Economy

Delta Earmarks 3.5bn for CARES

By Web News 438

By Egheweree Oghenero

The Delta State Government says the administration has earmarked the sum of three point five billion naira aimed at reactivating the COVID-19 Action Recovery and Economic Stimulus Program CARES, as s short-term response to the current economic difficulties and the coronavirus pandemic.

The State Commissioner for Economic Planning and Chairman of the CARES Steering Committee Mr. Sonny Ekedayen, disclosed this at the end of a Two Day Pre Mid-Term Review visit to the state by partners.

Mr. Ekedayen said the fund which was the first in the life of the new dispensation would enable the programme to reach out to more beneficiaries and in return attract more funding from the World Bank.

The Team Lead from the Federal CARES Support Unit Mr. Edebeatu Chetachi, commended the execution of the project in the state, which he noted was according to the World Bank specifications and called for more funds to be released to consolidate the gains achieved.

The Commissioner for Agricultural Resources Mr Perez Omuon and his counterpart in the Ministry of Humanitarian Support Services Miss Orode Uduaghan, alongside the Delta CARES Coordinator Dr Patience Ugbewe, in their separate remarks lauded the impact of the initiative in the state.

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Economy

Gov. Makinde Inaugurates Covid-19 Economic Stimulus Package (CARES)

By Web News 648

Governor Seyi Makinde of Oyo State has inaugurated a steering committee for COVID-19 Action Recovery and Economic Stimulus Programme for Result (CARES) to provide necessary intervention and support for the people in the state.

The CARES initiative is a World Bank programme across the 36 states of the federation including the Federal Capital Territory, FCT. 

The 9- man steering committee to be headed by the Commissioner for Finance, Mr Akinola Ojo was inaugurated at the Executive Chambers of the Governor’s Office, Ibadan,

Speaking at the event, Governor Seyi Makinde said the focus of the World Bank assisted project was basically to mitigate the damages caused by the Covid-19 pandemic with the aim of caring for the poor and vulnerable, guarantee food security and support MSMEs.

While reeling out several interventions of his administration to cushion the effect of Covid-19 and sharing of palliatives, the governor noted that the CARES programme was not for mere money sharing but to ensure measurable results was achieved. 

Earlier, the chairman of the steering committee and Commissioner for Finance, Mr Akinola Ojo explained that the World Bank facilitated programme Nigeria CARES (NCARES) had earmarked 750 million dollars for a two-year financial support to states.

Mr Ojo pledged that Oyo State would access maximum grant from the programme in line with the current administration’s vision of moving the people from poverty to prosperity.

Also the state coordinator of the programme, Mr Kikelomo Adegoke assured that the state on its part would ensure a thorough implementation of the programme in accordance with its mandate.

Iyabo Adebisi