CBN COVID-19 Intervention Fund: N107.45 billion Disbursed to Beneficiaries: The Central Bank of Nigeria (CBN) has disbursed the total sum of N107.45 billion to beneficiaries from the N1.15 trillion Covid-19 Pandemic Intervention Funds so far, according to data provided by the bank from the Monetary Policy Meeting for May 2020.
CBN has disbursed the total sum of N107.45 billion to beneficiaries from the N1.15 trillion COVID-19 Pandemic Intervention Funds.
The Bank announced that under the N100 billion Healthcare Sector fund, N10.15 billion has been disbursed and approved for establishments of advanced diagnostics and Health Centres and expansion of Pharmaceutical plants for essentials drugs and intravenous fluids.
READ ALSO: Adam Ahmed Gets Appointment as NDA Acting Provost
The Bank has also disbursed N93.2 billion under the Real Sector Support Fund to boost local manufacturing, which consists of 44 Greenfield and Brownfield projects.
Finally, the Bank has approved N10.9 billion to 14,331 beneficiaries under the N50 billion Targeted Credit Facility for Households and SMEs, out of which N4.1 billion has been disbursed to 5,868 successful beneficiaries.
READ ALSO: Reps Urges FG to Block Entry of Foreign Herdsmen into Nigeria
The Central Bank Governor, Godwin Emefiele said the bank will also encourage Banks to offer and disburse the funds to the sectors that are priority to the economic to aggregate demand and create jobs.
The MPC meeting policy also expects a sharp decline in output growth in Q2 2020 and maybe the third quarter and expects the economy would reverse positive by fourth quarter if current stimulus initiatives are properly implemented.
Related posts:
- How to Lodge Complaints to CBN Over Banks Unfair Practices
- CBN N50bn Loans to SMEs & Others End 2024
- CBN COVID-19 Support Loan 2020 for Households & Businesses
- How to Apply CBN N50bn COVID-19 Intervention Fund
- How To Apply CBN AGSMEIS Loan 2020/2021 & Requirements
- CBN MSMEDF Loan 2020/2021 Application Guide – Apply Without Collateral
- CBN Salary Structure – Current Central Bank of Nigeria Salary Structure
- Central Bank of Nigeria Recruitment Portal 2020 – www.cbncpp.org