Lagos State Employment Trust Fund (LSETF) collaborated with First Bank of Nigeria Limited to facilitate the matching fund, which will be given as a loan to schools and vocational education centres across the State.
The N5 billion Post-Coronavirus (COVID-19) Recovery Support is to help the targeted beneficiaries accelerate recovery and give them the opportunity of a painless return to regular life.
He said: “It is no longer debatable that the education is one of the sectors that are severely impacted by the COVID-19 pandemic, with schools and vocational learning-centers shut since March when we took the tough decisions meant to disrupt the spread of the virus. Given the incidence of the closure of schools in response to the pandemic, it would not be out of context to note that the challenges presently faced by these schools would increase significantly.
With access to low-cost funding for privately owned schools and vocational training centres in the state, we are confident that this programme will help accelerate sustainable and painless return to world-class learning and skills acquisition of our young population. As a responsible Government, we are obligated to provide the intervention that would enable learners in these schools’ study in line with the new normal.” Lagos governor said.
To apply for the loan facility, applicants are expected to submit their applications via the LSETF portal for screening. Details of the successful applicants will be passed on to First Bank for appraisal and disbursement.