FG stimulates Edo economy, empowers 922 youths, women with grant

The Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES), The Federal Government in partnership with the World Bank and Edo State Government has empowered 922 youths and women with livelihood support under the Nigeria Community Action for Resilience and Economic Stimulus (NG-CARES).

BusinessDay reports that the beneficiaries of the programme in Edo State are the first batch to be empowered under the Livelihood Support Disbursement Linked Indicator (DLI 1.3) of EDO CARES Project fourth phase implemented by the State Cash Transfer Unit.

Adesuwa Agbonavbare, Training and Communication Officer of Edo State Cash Transfer Unit, stated this in a statement made available to newsmen on Monday in Benin City.

Agbonavbare said the grant programme was aimed at supporting the existing business of youths and women from the poor and vulnerable households to improve consumption and end the cycle of poverty.

She explained that the grant transfers followed verification and enrolment of eligible beneficiaries who are youths and women in 11 Local Government Areas of the State.

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“The beneficiaries were taken from the State Social Register of the poor and vulnerable. As part of the process leading up to the grant transfer, the beneficiaries also received livelihood and soft skills training.

“The amount of the grant were determined by the micro business plans and trade areas of the grantees while the grants were transfered directly into the bank accounts of beneficiaries”,she said.

She noted that the grant would enable the beneficiaries to buy the necessary equipment required to improve their different trades as well as sustainably enhance their means of livelihood.

While commending the State Governor Godwin Obaseki for making the resources available for the benefit of the poor and vulnerable, she added that the financial empowerment would help to alleviate the harsh economic challenges of the beneficiaries.

According to her, more beneficiaries were expected to receive their grants which range between N100,000 and N 200,000 per beneficiary as soon as they complete their bank account opening formalities.

“The EDO CARES Livelihood Support Programme was one of the disbursement linked indicators under the NG CARES Project in Edo and was a World Bank performance for result project”,she stated.