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Thursday, May 19, 2022

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World Bank to spend $800 mln to support cash transfer to poor Nigerians

The World Bank is planning to support Nigeria with about $800 million facility designed to fund Conditional Cash Transfer programme in the country.

According to the Nigeria Governors’ Forum (NGF) in its 36th teleconference meeting communique, a steering committee to oversee the Conditional Cash Transfer initiative to ensure that the programme aligns with the vision of the state government will be set up by states.

The communique stated that the World Bank Country Director, Shubham Chaudhuri disclose the programme to the governors at their meeting.

“Forum members also listened to the World Bank Country Director, Shubham Chaudhuri, on the rollout of a World Bank financed $800 million facility designed to fund a large-scale Conditional Cash Transfer programme across the country.

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“The forum thereafter resolved that each state governor will establish and chair a steering committee to oversee the Conditional Cash Transfer initiative to ensure that the programme aligns with the vision of the state government.”

Nigeria has an existing CCT programme, which is managed by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.

The NGF further stated that it received a presentation from the humanitarian ministry on the cash transfer programmes of government.

“On the National Social Register and the Rapid Response Register as critical tools for rolling out cash transfer programmes, members received a presentation from the National Coordinator of the National Social Safety Nets Coordinating Office, Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, Iorwa Apera,” the NGF stated.

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