By Munachimso Obienyi
The Federal Government has received $338.98 million from the World Bank in 2022, which it plans to release to states soon.
NwafoLive learnt the funds were released under the State Fiscal Transparency, Accountability and Sustainability project, which was initiated in 2018.
The SFTAS project was designed to strengthen transparency and accountability at the sub-national level, and will end this year.
A total of $1.5 billion was committed to the project in two batches of $750 million (December 2018 and December 2020) by the World Bank. Although the money is a grant to state governments, it is a loan to the Federal Government.
According to data obtained from the website of the World Bank showed that four disbursements were made to the Federal Government in 2022, the first disbursement was made in April 2022, with the release of $700,036.87, while the second was $330.99 million in June.
The third disbursement was in October with the release of $6.83 million, while the last disbursement was $450,419 in November this year.
Recently, the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, disclosed that states had received N471.9 billion of the $1.5 billion World Bank-assisted SFTAS Programme for Results.
