The Nigeria COVID-19 Action Recovery and Economic Stimulus (CARES) Program is a state-level intervention that seeks to mitigate the local effects of the COVID-19 worldwide pandemic at the state-level, by protecting the livelihoods of existing and newly poor and vulnerable households, and supporting the recovery of local economic activity especially among MSMEs.
The program consists of 3 Results Areas (RAs) as defined below:
- RA 1 – Focuses on Social Protection.
- RA 2 – Focuses on Agriculture and;
- RA3 – Focuses on Micro Small and Medium scale enterprises (MSMEs).
This Program pertains to Result Area 3 (RA3)- Facilitating Recovery and Enhancing Capabilities of Micro, Small &Medium Enterprises (MSMEs).
Results Area 3 is aimed at facilitating the recovery and enhancing capabilities of local MSMEs through interventions designed to reduce the vulnerability and cushion the effect of income loss brought about by the ongoing COVID-19 pandemic and its resultant disruption to regular commercial activity.
ITS IMPORTANT TO NOTE THAT THIS PROGRAM IS RUN BY THE WORLD BANK AND BANK OF INDUSTRY (BOI) AND NOT THE ENUGU SME CENTER.
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