No fewer than 3000 micro, small and medium small-scale enterprises (MSMEs) are to benefit from the first batch of operational cost grants under the Kwara COVID-19 Action Recovery and Economic Stimulus (CARES) Programme.
The programme, a World Bank initiative to be underwritten by the Kwara State government, is designed to cushion the effects of the COVID-19 pandemic, improve the state of the MSMEs to boost the local economy and employment generation in the state.
“Over 4,225 successful applicants underwent the vetting process for disbursement linked indicator, DLI 3.2. At the end of the vetting process, over 3,000 successful applicants are currently being contacted for enumeration by agents from the Bank of Industry,” Jaiye Jegede, the DLI 3.2- operational grant team lead, said in a statement in Ilorin.
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Jegede announced that over 20,000 applicants from across all 16 local government areas of the state applied through online and offline registration processes at the ministry of business, innovation and technology and the Kwara State social investment programmes office.
“Following the registration which was open to all small business owners in Kwara State, over 4,000 successful applicants for the operational cost grants also known as disbursement linked indicator (DLI 3.2) were contacted by the Bank of Industry who are the implementing partners to fill a vetting form requesting for further information on their businesses,” he added.
The statement explained that the programme will begin disbursement with the operational cost grants followed by the credit grant and IT enhancement grant.
