As part of Nigerian efforts to stop the effect of COVID-19, the Minister of Finance, Budget, and National Planning, Zainab Ahmed, says the Federal Government is in the process of acquiring a 750 million dollar loan from the world bank to help states.
This loan, according to her, is to stimulate the local economy and support vulnerable household consumption.
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Mrs. Ahmed disclosed this at the Federal Steering Committees of the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) program in the nation’s capital.
The minister said that the federal government had created windows of intervention, as captured in the economic sustainability plan inaugurated by President Muhammadu Buhari in March 2020.
She stressed that in going to borrow the money, the federal government considers the cause and consequences of civil unrest and COVID-19 in the country.