Kwara state government, Tuesday, flagged off the disbursement of N160, 550,000 in grants to 688 small and micro-scale businesses in the first tranche of the KWARA NG CARES RA3 operational grants.

These beneficiaries comprise 45 small scale businesses that will receive N700, 000 each, and 623 micro-scale businesses that will receive N200, 000 each cutting across the 16 local government areas of the state.

The General Manager of KWASSIP, Mr. Abdulquawiy Olododo, stated that the program is a World Bank-assisted emergency recovery and intervention programme to curb the impact of COVID-19 on businesses in the state.

He said the programme, which is being facilitated by the Kwara state government is also meant to provide economic relief and improve the employment rate in the state.

The GM added that the program is one of the many efforts of Governor Abdulrahman Abdulrazaq to improve the quality and ease of running businesses in Kwara state.

The acting technical head of the NG CARES For MSMEs RA3, Mrs. Rukayat Yahaya urged beneficiaries to utilize the grants for intended purposes.

She also stated that the operational grant will be followed by the credit grant for easing financial constraints on MSEs and IT enhancement grant for upgrading MSEs' capabilities.