The Federal Government has received $338. 98 million from the World Bank in 2022, which it plans to distribute to states soon, according to The PUNCH.
The funds were released as part of the State Fiscal Transparency, Accountability, and Sustainability project, which began in 2018.
The SFTAS project, which aimed to improve transparency and accountability at the subnational level, will come to an end this year.
The World Bank committed a total of $1. 5 billion to the project in two installments of $750 million (December 2018 and December 2020).
The finance minister announced that the final tranche of the funds would be released to states “in a few weeks.”