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COVID-19: Fayemi inaugurates State CARES steering committee
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By Rotimi Ojomoyela, Ado-Ekiti
Ekiti State Governor, Dr Kayode Fayemi, has inaugurated a nine-man committee to give policy direction to the implementation of the State COVID-19 Action Recovery and Economic Stimulus (CARES) programme
The programme which was designed to support the livelihood of the poor and vulnerable households in the State, is a jointly developed World Bank-supported programme aimed at mitigating the effect of the COVID-19 pandemic on the socio-economic wellbeing of the people.
Governor Fayemi while inaugurating the committee member in Ado- Ekiti, to mark the formal activation of the CARES programme in the State, explained that the programme would also support budgeted state government interventions for farmers, artisans, Micro and Small Enterprises (MSEs) affected by the economic crisis occasioned by the pandemic.
Despite the nationâs rising debt profile, the Senate, last week, approved the federal governmentâs request for another $1.5bn, â¬995m external loans, reports Udora Orizu
On April 21, the Senate gave the federal government the nod to borrow a total of $2.7 billion out of the $5.5 billion external borrowing request sent to the National Assembly by President Muhammadu Buhari in May, 2020.
Buhari had last May requested the Senate to approve the external borrowing to finance various priority projects of the federal government and to support the state governments facing fiscal challenges.
Over the years, given the countryâs rising debt profile, Nigerians always express concerns whenever they hear that the government is seeking one loan or another. Nigeria, under President Muhammadu Buhari, is currently on a borrowing spree.