The Federal Capital Territory COVID-19 Action Rcovery Economic Stimulus Program Commences.
The Federal Capital Territory (FCT) COVID-19 Action Recovery and Economic Stimulus (CARES) program, a collaboration between the World Bank and the Federal Government Of Nigeria has commenced.
The initiative aims to provide financial support to economically active individuals whose businesses suffered due to the COVID-19 pandemic.
The enrollment and capturing exercise is currently taking place in various communities within the FCT, including Jijimbu, Sunday Garage, Hajiya Kulu, Junior Staff Quarters, and Northeastward, Abaji area council.
According to the organisers, the primary objective of the program is to offer grants to beneficiaries whose businesses were adversely affected by the pandemic, thereby assisting them in recovering their livelihood activities.
Grants provided through the program, they said range from 50,100 to 135,000 naira to support businesses of varying sizes, including small, medium, and large enterprises.
The process is being implemented by the Abuja Enterprise Agency and they will conduct a sensitization and training program for all enrolled beneficiaries which will focus on financial management, business recovery strategies, and other relevant topics.
The organisers will also ensure that beneficiaries receive their stipends directly into their bank accounts, ensuring transparency and accountability in the distribution process.
Overall, the FCT CARES program is designed to provide much-needed financial assistance to businesses in the FCT that have been adversely impacted by the COVID-19 pandemic, ultimately aiding in economic recovery and resilience.
- Category:
- Community
- Writer:
- Maryam Ahmed Hamman
- 11 Mar, 2024
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