The Federal Government of Nigeria on Friday signed a N17.8 billion agreement with the World Bank to promote youth employment, access to socio economic services and to strengthen public financial management systems.
The four beneficiaries are Edo, Delta, Bayelsa and Rivers States.
Below are the details of that agreement.
* Signing of Grant Agreement on the European Union Additional Financing for the SEEFOR Project
* Signing agreement between the Federal Govt of Nigeria and the World Bank represented by its Country Director Dr Richid Bennemosoud
* The grant sum is €80 million (about 17.8 billion Naira) to promote youth employment, access to socio economic services and to strengthen public financial management systems.
* There are 4 benefuciary states of the SEEFOR Project; Edo, Delta, Bayelsa and Rivers States.
*SEEFOR stands for: State Employment and Expenditure For Results
* Minister of Budget and National Planning Udoma Udo Udoma singed on behalf if the FG while Dr Rachid Bennesoud, World Bank Country Director and the EU Head of Delegation, Juan Casal signed on behalf of the Donor Agency.
* Minister Udoma said that SEEFOR Project is an interventionist initiative aimed at enhancing opportunities for employment generation and access to socio economic services, while improving the public expenditure management (PEM) systems in the SEEFOR participating states
* Udoma described the support as consistent with the aspirations of the current Administration’s Change Agenda
* The next stage is for the participating states to sign subsidiary agreement with the Federal Ministry of Finance
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