Minister of Finance, Budget, and National Planning, Zainab Ahmed has revealed that the Federal Government, is in the process of acquiring a 750 million dollar loan, from the world bank.

The Minister revealed that the loan is for states to mitigate the effect of the COVID-19 pandemic on the economy.

According to the minister, the loan aims to stimulate the local economy and support vulnerable household consumption.

Mrs. Ahmed made this known at the inauguration of the Federal Steering Committees of the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES) program, in the nation’s capital.

The minister noted that the federal government has created windows of intervention, as captured in the economic sustainability plan inaugurated by President Muhammadu Buhari, in March 2020.