Nigerian Newspapers

CROSS RIVER RECEIVES $20.4M WORLD BANK GRANT

CROSS RIVER RECEIVES $20.4M WORLD BANK GRANT

CROSS RIVER, Nigeria – The Cross River State government says the sum of 20.4 million Dollars as a World Bank grant for the States Fiscal Transparency Accountability and Sustainability, SFTAS, programme.

In a statement issued on Saturday, the State Commissioner for Finance, Asuquo Ekpenyong Jnr. stated this in Calabar during a media chat with journalists.

Ekpenyong Jnr. said the state was able to receive the grant due to its improved public debt and fiscal framework. He said the grant would be used to finance part of its 2021 approved budget.

On his part, the Chairman of Cross River State Internal Revenue, Spanked Ogar, said the state has stepped up its IGR which enables it to qualify for the grant.

The SFTAS Programme is a hybrid component of activities that support states in Nigeria to achieve some key result areas of performance-based financing and Technical Assistance funded by the World Bank and Cross River was among the three qualified states in Nigeria.

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