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Plateau to benefit from N8bn World Bank COVID-19 economic stimulus fund

Plateau to benefit from N8bn World Bank COVID-19 economic stimulus fund
Plateau to benefit from N8bn World Bank COVID-19 economic stimulus fund
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Governor Simon Lalong of Plateau State has inaugurated a steering committee to supervise the implementation of the World Bank-funded COVID-19 Action Economic Stimulus Program for Result (NG-CARES).
Speaking during the inauguration of the committee at Little Rayfield Government House Jos, the Governor said the programme was being financed by the World Bank adding that it has fulfilled the requirements to access to $20 million dollars (over 8 billion naira) from the $750 million dollars granted to the Federal Government to address the negative consequences of COVID-19 on our economy. ....

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2020 revised budget: Reps approve $7.031bn, £995m external loan for FG, States

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The House of Representatives on Wednesday approved President Muhammadu Buhari’s request to obtain $7.031 billion and £995million external loan.
Breakdown of the external loan approved showed that the sum of $5.513 billion is to finance Federal Government’s revised 2020 budget deficit, £995 million to improve food security while $1.5 billion is for state governments facing fiscal challenges arising from the COVID-19 pandemic.
According to the report, the House had in June 2020 approved the request to obtain the $5.513 billion to finance the proposed revised 2020 budget deficit, but “due to the absence of adequate information on the second and third terms on Mr President’s request, the Committee in agreement with the Hon Minister, Federal Ministry of Finance, Budget & National Planning deferred consideration of the external borrowing request relating to funding of priority projects of the Federal Government to be captured in the budget estimates for 2021 ....

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Senate approves $1bn, €995m external borrowings for FG

Senate approves $1bn, €995m external borrowings for FG
tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.

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Weathering the pandemic and growing the manufacturing sector

Weathering the pandemic and growing the manufacturing sector
by MARTIN MWITA
•The association calls for reduced cost of doing business, as high taxation remains a burden.
•The country’s manufacturing sector has played a major role in the fight against the pandemic, with the local production of PPEs.
As the second quarter of 2021 unfolds, what is the state of the manufacturing sector?
At the beginning of the year, we were optimistic that we would see economic recovery after being hard hit by the Covid-19 pandemic last year. Currently, our economy is in a frail state–the spiraling debt, high cost of doing business, corruption, an inefficient transport and logistics system, policy unpredictability and instability as well as rolling back of measures put in place to cushion the economy from the effects of the pandemic, which continue to hinder our competitiveness and productivity. ....

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Coronavirus vaccine news gives Kenya hope of economic recovery

The East African
Wednesday February 10 2021
With news of Covid-19 vaccines, businesspeople expect resumption of businesses that had stalled during the pandemic. PHOTO |
Summary
Most businesses expect to recruit more workers this year compared with 2020, largely due to strong business prospects following easing of Covid-19 containment measures, improved market optimism, expected increase in government spending on development infrastructure and expected increase in economic activities.
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Kenyan businesses are optimistic of an economic rebound amid expectations of a Covid-19 vaccine and after the schools reopened in January. These have increased consumption along the value chain, and boosted activity in the education sector and other supporting sectors such as transport, retail trade and financial services. ....

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