World Bank grant application – The Federal government of Nigeria has taken a huge step forward to promote the Nigerian economy through the banking sector as it aim to empowering grassroots business through microfinance banking system. This program is known as Bottom-Up project. It promises to release ₦10billion grants to empower modern microfinance banks which will in turn empower billions of grassroots business courtesy of World Bank.
Development Bank of Nigeria (DBN) will supervise the transfer of the grants from World Bank to Microfinance banks while Social Exchange will be in charge of the registration of the modern microfinance banks. This project which was initiated by World Bank aimed at eradicating poverty and tends to achieve this by creating modern microfinance banks at the grassroots.
This was made public on the training of microfinance managements for bank chairman, directors and other stakeholders organized by Kingdom Wealth Multipurpose Cooperative Society for the South-West region in Lagos. Dr. Mike Alatisa, speaking at the event said that the World Bank is ready to grant ₦10billion per bank to empower microfinance banks, which will in turn give grants directly to business owners.
Dr. Alatisa said also, “Any modern microfinance bank that wants to get involved in the grant disbursement must have a minimum of 1000 members with their genuine business proposals without which such bank would be denied registration and entitlement for the World Bank grant application”.
ELIGIBILITY FOR WORLD BANK GRANT APPLICATION
This grant is available for all Nigerians that do business in Nigeria. They must have a feasible business or project they are doing. Preference will be given to agro-based investors to support them in their choice endeavor in the empowerment programme.
The flow of the grants starts from the World Bank to the Social Exchange Market, then to the DBN, to Modern microfinance banks and finally to applicants of the grant. This flow ensures to generate wealth for individuals and as well as add to the national GDP.
FOLLOW THESE STEPS TO OBTAIN THE WORLD BANK GRANT APPLICATION
- Possess economic revolution of a community, town or city in Nigeria;
- Have an investment or business that you would establish in such community, town or city;
- Search for like-minded participant willing to partner with you in developing such business;
- Approach Bethany Human Development Center for membership registration indicating details of your location and your group intention;
- Mobilize minimum of 1000 investment/business within the reach of your business location;
- Attend seminar organized by Bethany Human Development Center and obtain certificate for attendance;
- Grants are given by the Social Exchange Market for each project enlisted in your business location.
Bethany Human Development Center registration form
- Membership registration at BHDC is ₦1000;
- Each business will pass through a standard follow-up for proper implementation by Development Bank of Nigeria, BHDC and Social Exchange Market.
The World Bank advises that interested applicants should log on to the official website http://projects.worldbank.org/ to ascertain more information on World Bank assisted projects. World Bank will not be held responsible for any refunds of fees solicited by fraudsters cloning World Bank.
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