Kwara state government, Tuesday, has commenced the disbursement of N160,550,000 in grants to 688 Small and Micro-Scale businesses, (SMEs) in the first phase of the KWARA NG CARES RA3 operational grants.
These recipients include 623 micro-size enterprises spread across the state’s 16 local government areas, which will receive N200,000 each, and 45 small scale businesses, which would receive N700,000 each.
According to Mr. Abdulquawiy Olododo, the General Manager of KWASSIP, the initiative is an emergency recovery and intervention program supported by the World Bank to lessen the effects of COVID-19 on enterprises in the state.
He stated that the program, which is being supported by the Kwara state government, is also intended to bring about economic relief and raise the state’s employment rate.
The GM continued by saying that the program is only one of the governor’s many initiatives to enhance the standard and simplicity of conducting business in the state of Kwara.
The NG CARES For MSMEs RA3’s acting technical leader, Mrs. Rukayat Yahaya, recommended recipients to use the grants for their intended purposes.
She also said that after the operating grant, there will be a credit grant to help MSEs with their financial struggles and an IT enhancement grant to help MSEs with their capabilities.
