World Bank, FG Launch Equity Scheme

The World Bank, in conjuction with the Federal Gov­ernment of Nigeria, has launched a grant scheme to support micro, small and medium scale entrepreneurs in the country.

The bank has committed over N165 billion to this project, which it is believed would yield fruits and among those that will benefit are young Nigerians who are already in business and those who are aspir­ing to set up their own business, but must register with the up-coming programme of business innovator in December.

The Project Coordinator, Growth and Employ­ment Management (GEM), Mr. Sani Labaran, said the venture was aimed at creating about 100,000 jobs for business-oriented people.

He stated this while speaking with newsmen on the sidelines of the GEM Equity Window Launch  in Lagos.

According to him, the project is open to every Small and Medium Scale Entrepreneur cut across the coun­try.

The coordinator said that interested investors should register on the Business, Innovation and Growth plat­form to qualify for the equity financing through the GEM project.

“Whoever we support must be able to stand on his or her own. The GEM project has a life span that will expire by September 2018,” he said.