By Martha Agas
Jos, May 25, 2021 Gov. Simon Lalong on Tuesday inaugurated a 10-Member Plateau Steering Committee, on COVID-19 Action Economic Stimulus Programme for Result (NG-CARES).
Inaugurating the committee at Government House Jos, Lalong charged members to justify the confidence reposed in them, by delivering on the targets of the programme.
“By this inauguration, Plateau is fully ready to participate in the implementation of the programme which is financed by the World Bank.
“Our dear State has qualified to access 20 million dollars (over N8 billion ) from the 750 million dollars to be accessed by the Federal Government, to address the negative consequences of COVID-19 on our economy,” he said
EA Finance ministers juggle to fund recovery but debts mount
Wednesday May 19 2021
Ongoing construction of the Nairobi Expressway in Kenya. Regional economies are borrowing more to plug deficits but economists warn the misuse of borrowed cash through wastage and corruption risks pushing countries into debt overhang. PHOTO | FILE | NMG
Summary
Debt servicing obligations have become a nightmare for regional economies, which have seen significant portions of tax revenues used in paying interest on loans rather than fund government operations and development projects.
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East African finance ministers are walking a tightrope as they try to fix economies ruined by the prolonged effects of the Covid-19 pandemic and repair national balance sheets saddled with huge debts, shrinking revenue sources and increasing expenditure needs.
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Workers at a fish hatchery near Meru town. [Courtesy]
Efforts to encourage Central Kenya residents to consume more fish reared locally appear to have hit a snag with Nyeri and Meru counties now seeking to lease out two of the largest fish processing plants in the region.
Wamagana processing plant in Nyeri and Kanyekine fish factory in Meru were both inherited from the national government under the Economic Stimulus Programme (ESP) during President Mwai Kibaki’s tenure.
One of the main challenges is fish reared in ponds face stiff competition from those from large water bodies such as lakes, rivers and seas. According to Beth Wangui, a fish trader in Nyeri town, most of her stocks are sourced from Kisumu because of the size and preference of her customers.
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Edo State Government on Thursday announced that it has set aside the sum of N3 billion as a post-COVID-19 intervention grant to cushion the effects of the Coronavirus pandemic on Small and Medium Enterprises, SMEs, in the state.
The grant, tagged Action Recovery and Economic Stimulus Programme, the government said, would be a component of Nigeria Cares World Bank Support Programme.
Making the announcement at a press briefing journalists in Benin City, the Permanent Secretary, Ministry of Wealth Creation, Cooperatives and Employment, Joel Edionwe, explained that under the programme, the Edo State Government would provide up to 40 per cent grants to support businesses affected during the COVID-19 lockdown.
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