Kwara announces N160m recovery grants for MSMEs

The Kwara State Government on Tuesday announced the disbursement of N160,550,000 in grants to 688 small and micro enterprises under the first tranche of the KWARA NG CARES RA3 operational grants.

These beneficiaries include 45 small businesses which will receive N700,000 each and 623 micro businesses which will receive N200,000 each in the 16 local government areas of the state.

The Managing Director of KWASSIP, Mr. Abdulquawiy Olododo, said the program is a World Bank-assisted emergency recovery and response program to limit the impact of COVID-19 on businesses in the state.

He said the scheme, which is facilitated by the Kwara State Government, also aims to provide economic relief and improve the employment rate in the state.

The Managing Director added that the program is one of Governor Abdulrahman Abdulrazaq’s many efforts to improve the quality and ease of running businesses in Kwara State.

NG CARES For MSMEs RA3 Acting Technical Officer, Ms. Rukayat Yahaya, urged grantees to use the grants for the intended purpose.

She also said that the operational grant will be followed by the credit grant to ease the financial constraints of MSEs and the IT improvement grant to upgrade the capacities of MSEs.

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