The Federal Government through the Ministry of Finance today reached out to the National Assembly to intimate it with an Executive Proposal to establish a five hundred billion naira COVID-19 Crisis Intervention Fund.
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed led the Federal Government’s team and met with the Senate President, Senator Ahmad Lawan and Speaker of the House of Representatives, Femi Gbajabiamila to work out the modalities.
The Finance Minister along with senior officials from the ministry held the meeting which was also attended by the Deputy Senate President, Ovie Omo-Agege, Deputy Speaker, Idris Wase and some other principal officers from both chambers at the National Assembly.
She said in addition to the identified special accounts from where the money would be drawn as loans, the proposed intervention fund is also expected to be sourced from grants being expected and loans from multilateral institutions.
In a remark, the Senate President said the meeting was in fulfillment of an earlier promise to provide support as the need arises in this time of crisis.