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.
At the commencement of the first phase enumeration for the programme in Ilorin, the 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), and 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)
He explained 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.
Jegede noted that the programme will kick off disbursement with the Operational cost grants also known as disbursement linked Indicator (DLI ) 3.2, followed by the Credit grant and IT enhancement grant.
Reporting by Ali Rabiu; Editing by Abdullahi Lamino