World Bank Extends Closing Date For Project

THE World Bank has approved the extension of its funding support to the implementation of the Community and Social Development Project (CSDP) in Nigeria.

In a letter conveying the approval, addressed to the Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed and copied to the National Coordinator of CSDP, Dr Abdulkarim Obaje, the World Bank extended its financing of the project by three months.

“We are pleased to inform you that the Association has accordingly, extended the closing date of the Project and associated credits and established 31st December 2020 as the later date for purposes of Section IV.B.2 of Schedule 2 of the Agreements” Shubham Chaudhuri, the World Bank Country Director for Nigeria stated. The CSDP was earlier scheduled to close on 30th September 2020.

The Federal Government had on 22nd September written to the World Bank requesting for an extension of the closing date of the Project. The government cited the need to strengthen the institutional framework for the implementation of the proposed Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) as part of the reasons for the request to extend the Project closing date. The Federal Project Support Unit of CSDP has been designated as the Focal Agency for the preparation of the N-CARES Programme.

The CSDP became effective in 2009 and has assisted communities and vulnerable groups, including returnee IDPs to design and implement 17,048 micro-projects in key sectors of the rural economy such as Education, Water, Health, Transportation, Electricity, Environment and Natural Resources Conservation and Community Housing across the 29 states and FCT participating in the Project.

Receive Alerts on: Whatsapp: +2347055577376, Twitter: @Nationnewslead, Instagram: @ Nationnewsleadd, Facebook Page: @Nationnewslead Share your story with us: SMS: +2347055577376, Whatsapp: +2347055577376, Email: nationnewslead@gmail.com