The World Bank has awarded the Imo State government with a whopping sum of Four million US dollars (N6.8b) for engendering good governance and accountability in the ease of doing business.
This was revealed by the Commissioner for Information, Public Orientation and Strategy, Hon Declan Emelumba during a conference in Owerri, the state capital.
He stated that Imo State is one of only four states in Nigeria that met the criteria for reimbursement under the World Bank’s State Action on Business Enabling Reforms (SABER) program for the nation.
The Commissioner explained that the evaluation of the states was based on several factors, including the efficiency of land administration, the regulatory framework for private investment in fibre optic infrastructure, the services offered by investment promotion agencies, and the efficiency and transparency of government-to-business services in the participating states.
Emelumba revealed that the state performed exceptionally well in all four areas, thereby qualifying for a substantial financial reward to support the enhancement of its programs.
The Commissioner further stated that the government plans to allocate the fund to promote essential reforms and reinvest in infrastructure, which will include providing assistance to micro, small, and medium-sized enterprises.