A’Ibom ready to begin COVID-19 economic recovery stimulus programme

Etim Effiong

The Akwa Ibom State Government says it is ready to kick start the COVID-19 Economic Recovery Stimulus Programme (CARES-P) saying that the state government has met the World Bank criteria to access the $20 million approved for the purpose.

The Commissioner for Economic Development and Ibom Deep Seaport, Mr Akan Okon, said the money is meant to alleviate the economic fortunes of the poorest of the poor affected by the COVID-19 pandemic in Akwa Ibom.

Okon said this while speaking with newsmen on Tuesday after the distribution of office equipment to five implementation platform to kick start at the end of March.

Okon commended the World Bank and the Federal Government for approving the programme for the state.

He further applauded Governor Udom Emmanuel for setting up a committee in June 2020 to oversee the programme, adding that Akwa Ibom was one of the few states to meet the World Bank criteria to be benefit from the programme.

He stated that following the timetable provided by the World Bank, the money would be disbursed by March 2021 to beneficiaries in line with all modalities put in place for that purpose. 

“Looking at the area of cash transfer to the poorest of the poor, using the existing social register that we have in the state and a lot of families who lost their source of income would be supported.

“So that they can come out of their present situation, and it is done throughout the 36 states in conjunction with the Federal Government and World Bank.

“What the World Bank has done is to ensure that every state will be entitled to the sum of $20million dollars. A lot of paperwork has been done by the State Government to meet the criteria of World Bank.

“And you know that in our state, we are very transparent in what we are doing and that made it very easy that when we presented our documents, it was able to pass through the benchmark that was set.

“I want to tell you that in this programme, we are working with the timetable provided by the World Bank and is expected that by the end of March everything would have been put in place so that the people would begin to benefit from the programme.

“However, it is only when you meet the eligibility criteria that this can happen and I am happy to say that Akwa Ibom State on June 2nd 2020, the Governor inaugurated a committee to look into how the state can benefit from this programme. 

“I want to thank all the members of the committee. We are among the very few states to benefit from this programme,” Okon said. The commissioner said with the COVID-19 Economic Recovery Stimulus planned by both the Federal Government and World Bank, Small and Medium Enterprises seriously affected by the pandemic in the state would be revived.