The Cross River State government announced that it received the sum of $20.4 million as World Bank grant for the States Fiscal Transparency Accountability and Sustainability (SFTAS) programme.
This was disclosed by the Finance Commissioner, Mr Asuquo Ekpenyong, on Friday in Calabar, during a press briefing.
The Commissioner said the state was able to receive the grant due to being scored high marks by independent verification assessors for the programme.
“The assessment exercise, conducted in September 2020 by the Independent Verification Assessors from the office of the Auditor-General of the Federation, showed that we achieved six disbursement linked indicators (DLIs) out of the nine applicable for 2019 and 100 percent for 2020 additional financing,” Ekpenyong said.He added that the report showed Cross River had improved its public debt and fiscal framework.
“The report also indicates that the state has strengthened its public debt management and fiscal responsibility framework, improved debt and instituted a more transparent budgeting process over the course of the fiscal year,” he said.
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