USD 750 Million Federal Government Grant for Poor and Vulnerable 2022
Are you a poor and vulnerable Nigerian? Do you need grants for your households and firms? Are you starved of funds for your business? If all your answers were a resounding yes, then congratulations, the post got you covered
Application for the Federal Government Grant for Poor and Vulnerable for 2022 is in progress, applicants are advised to follow all the applicable rules and regulations when applying
Application for the Federal Government Grant for Poor and Vulnerable 2022 is completely free of charge, you don’t need to influence the grant process, only qualified persons will be shortlisted for the loan
Up to USD 750 Million have been secured for the Federal Government Grant for Poor and Vulnerable, applicants will be given between 50,000 to 100,000, 100,000 to 500,000, 500,000 to 1,000,000
The Federal Government Grant for Poor and Vulnerable is basically for Nigerians who are unable to meet their day to day spending and businesses or firms who require funding to operate
It is designed to support a budgeted program of expenditures and interventions at the State level – targeting existing and emerging vulnerable and poor households, agricultural value chains, and Micro and Small Enterprises (MSEs) affected by the economic crisis.
The program also aimed at Expanding access to livelihood support and food security services, and grants for poor and vulnerable households and firms
In Nigeria, the COVID-19 pandemic led to the closure of many MSEs, loss of jobs, stalled provision of basic services in poor communities and thereby increasing the population of Nigerians living below the poverty line.
As a response to the hardship perpetrated by the COVID-19 pandemic and in line with the vision of the Federal Government of Nigeria to lift 100 million Nigerians out of poverty in ten years
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The Federal Government of Nigeria, on behalf of the 36 states and the FCT, sought and obtained assistance from the World Bank to the tune of USD 750 Million for on-lending to the States and FCT to implement a two-year emergency response program, named the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES). Each State is allocated ex-ante USD 20 million, FCT $15 Million, and the Federal CARES Support Unit is allocated USD 15 million.
The program seeks to mitigate the impact of the COVID-19 crisis on the livelihoods of poor individuals, farmers, vulnerable households, communities, and owners of micro and small enterprises.
The financial instrument is the Program for Result (PforR) at the states and FCT while the Federal level is financed through the Investment Project Financing (IPF).
This grant program leverages past, successfully implemented government interventions such as
Community and Social Development Project (CSDP),
Government Enterprise and Empowerment Programme (GEEP),
National Cash Transfer Programme (NCTP),
National FADAMA Programme,
State Employment and Expenditure for Results (SEEFOR)
Youth Employment and Social Support Operations (YESSO)
How to Apply for Federal Government Grant for Poor and Vulnerable
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1 comment
I need a link please