…. Begins enumeration exercise, set to begin disbursement for first batch beneficiaries.
The Kogi State Government has begun the enumeration exercise of Kogi COVID-19 Action and Recovery Economic Stimulus -KG Cares, Result Area 3 for Operational, Credit and ICT enhancement Grants in Collaboration with Bank of Industry.
The exercise is expected to cater for over 2000 Small and Medium Enterprises (SMEs) who are to benefit from a 6.8million dollar grant, is a COVID-19 response stimulus program, targeting SMEs.
The program according to the Managing Director, Kogi State Enterprises Development Agency, Hajia Rekiya Onaivo Sanni, is a two year program, is set to begin disbursement for the first batch beneficiaries.
The program she disclosed is in conjunction with the Bank of Industry, began with the enumeration and vetting process, entails documentation for businesses that have been selected based on eligibility.
The exercise Hajia Rekiya disclosed is being implemented by KEDA, said it is one of the project in the three result area, under the 11 DLIs, covers businesses that borrowed money from the banks or financial institutions but were affected by the COVID-19 pandemic.
The Managing Director disclosed that added to the enumeration exercise is the training for the selected businesses, said the Grant and training is to enhance operation and businesses of the selected beneficiaries, where they would be clustered and aggregated under SMEs.
Beneficiaries she explained would benefit monies ranging from N100,000 to N1million, has made provision for 40% women, 40% men, 10% Youth and 10% Persons With Disabilities.
While she advised the beneficiaries to make better use of the Grant, she described SMEs as occupying a vital place in driving the economy of any State.
Similarly, the Kogi State Commissioner for Commerce and Industry, Hon. Gabriel Yunusa Olofu, in his remarks, praised Gov. Yahaya Bello for partnering with the Bank of Industry to cushion the effect of COVID-19 in the state on SMEs.
The N-Cares program, the Commissioner disclosed is geared towards helping SMEs to recover from the shock of COVID-19, pointing out that a lot of businesses went under, but stressed that the collaboration with the World Bank, Bank of Industry, would help the businesses recover from the COVID-19 shock.
Speaking to our correspondent, Omeiza Habib, one of the beneficiary, commended the State Government for taking the interest of SMEs in the State very important, lauded the seamless verification exercise, said the money would go a long way in the repositioning of businesses in the State.