The Nation Newspaper FEC approves constitution of humanitarian, poverty alleviation trust fund
The Federal Executive Council has approved the establishment of the Humanitarian and Poverty Alleviation Trust Fund to cater for the various humanitarian needs and take relief to the vulnerable population in the country.at the Council Chambers of the State House, also approved the application for a $3.45 billion World Bank financing for various projects, spread across five memoranda.
“This is a flexible form of financing that is supposed to help Nigeria adequately respond to humanitarian crises and challenges as well as adequately address the issue of poverty in Nigeria. This of course is a victory for the poor and indeed, would bring help and succor which the Renewed Hope Agenda stands for,” she said.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who also briefed after the Council meeting, said he secured approval for five loans totaling $3.45 billion from the Council meeting.
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