By Toyin Saheed
The Kwara state Government has flagged off the disbursement of One hundred and sixty million, five hundred and fifty thousand naira (N160,550,000) in grants to 688 small and micro-scale businesses in the first tranche of the KWARA NG CARES RA3 Operational Grants.
The beneficiaries, which comprise of 45 Small Scale businesses will receive N700,000 each, while 623 micro-scale businesses will get N200,000 each of the financial support cutting across the 16 Local Government Areas of the state.
Speaking at the event, the General Manager of KWASSIP, Abdulquawiy Olododo stated that the program is a World Bank-assisted emergency recovery and intervention program that is being facilitated by the state government to curb the impact of Covid-19 on businesses.
He added that the grant is to also provide economic relief and improve the employment rate in the State.
The Acting Technical Head of the NG CARES For MSMEs RA3, Rukayat Yahaya urged beneficiaries to utilize the grants in covering operational expenditures to incentivize employment retention and to keep their businesses running as this grant is an emergency recovery fund designed to help their businesses.
Presenting the cheques to beneficiaries were, The deputy speaker Kwara state house of assembly, Hon Adetiba Olanrewaju Rafael, The honourable commissioner of finance Mrs Florence Oyeyemi, The honourable commissioner of Hon Ibrahim Akaje amongst others.
