1,073 MSMEs to benefit from W/Bank intervention in Adamawa

No fewer than 1,073 Micro Small and Medium Enterprises (MSMEs) in Adamawa are to benefit from the World Bank intervention programmes through the Nigeria COVID-19 Action Recovery Economic Stimulus (NG-CARES). Hajiya Aishatu Bello, Project Manager, who disclosed this at the news conference on Friday in Yola, added that those to benefit are those already in the business and affected as the result of COVID-19 challenges. She said the programme would be handled by the Agency for Community and Social Development for Lively Support, FADAMA for Food Security and Poverty Alleviation and Wealth Creation Agency (PAWECA) for MSMEs as results area one, two and three respectively.

“For the MSMEs under PAWECA, the programme intends to impact on 1,073 MSMEs, as a government agency, we consider micro businesses are more vulnerable and they are of wider range . Then we decided that 70 per cent of the grant is going to micro businesses and 30 per cent will going to small business,” she said.Bello said that some of the conditions included that the business most be viable, vulnerable, verifiable and with formal registration with Cooperate Affairs Commission (CAC). “Therefore this is a World Bank supported programme of government and there must be rules and regulations for the beneficiaries. We have free application forms and for transparency, we are going to have application portal for the applicants to register online,” she said.  According to her, the programme will last for two years and she urged support of all stakeholders for the success of the programme in the state (NAN)