Zainab Ahmed | World Bank Live

The World Bank is prepared to grant $1.5 billion to Nigerian states as part of economic stimulus to cocoon the effects of corona virus in Nigeria.

On Thursday, Zainab Ahmed, Finance Minister disclose this NAN.

She narrated that State House correspondents after the National Economic Council (NEC) meeting linked from the Presidential Villa, Abuja.

Yemi Osinbajo, Vice President chaired the best reality National Economic Council (NEC) meeting and the fourth in 2020.

 Zainab Ahmed disclose that the World Bank stand that the effects of the pandemic corona virus on Nigeria will lead to seriously cause human and economic crisis, which will lead Nigeria into general decline in economic activity.

Zainab said that the prompt fiscal solace will also involve policy-based policy budget support for the Federal Government.

fiscal solace will base on effort to help macro-financial stability and create fiscal atmosphere for the stimulus.

“The World Bank package has also got a proposal of 1.5billion dollars for the states and this package will be dedicated to the states and it will be a programme for results which the states are already used to implementing.’’

The Minister said the immediate fiscal relief for the states will include the acceleration of an existing programme to enable disbursement by end of September.

“We are looking at an average of between N150billion to N200billion based on the plan to the 36 states. These are states that have already made some particular commitments and achievements.”

The members include governors, Governor of Central Bank of Nigeria, Minister of Finance, Head of the Civil Service, Secretary to the Federal Government and other relevant government officials.

The body assemble every month to deliberates on economic planning and programmes of various stages of government.

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