Business
World Bank Approves $20m For Tourism Dev
The International Bank for Reconstruction and Development, alias World Bank, has set aside $20 million for the development of tourism in Nigeria under the Micro, Small and Medium Enterprises (MSME) project.
This is in addition to more than N150 million it has so far spent on Tourism Employment and Opportunities (TEMPO) component of the MSME pilot project in Cross River State.
World Bank’s Senior Economist, Mr. Ismail Radwan, giving an overview of the programme in the state at the MSME Cross River State Tourism Stakeholders’ Forum at Tinapa in Calabar recently, said this was part of the four-programme component of the World Bank MSME project comprising Access to Finance, Access to Business Development Services especially through Value Chain Development Programmes, Improving the Investment Climate and Facilitating Public Private Dialogue.
He said one of the Value Chain Development Programmes being supported by the bank in Cross River is TEMPO and it was being implemented. According to Radwan, “World Bank has allocated N150 million to this pilot project (TEMPO) that we want to learn lessons from as we want to allocate money for more projects”.
The World Bank executive expressed regret that Nigeria had a bad reputation internationally which has stopped many tourists from visiting the country.
He blamed the situation on the travel advisories of Western countries, noting that the perception is not a true reflection of Nigeria.
He described Cross River State as “the most beautiful state in Africa” and Nigeria as the most endowed in Africa and said this was why “we are working to change the perception on Nigeria to attract others”.
Tourism, according to him, is a great money spinner in the world and Nigeria has great tourism potentials that can bring in so much money and employ many people and “that is why we are supporting tourism in Nigeria (and) the World Bank stands to help you”.
While declaring the forum open, the Deputy Governor of Cross River State, Mr. Efiok Cobham, said tourism is a major policy trust and the state has learnt to use what it has to get what it wants.
The Deputy Governor who was represented by the Secretary to the State Government, Mr. Fidelis Ugbo said “our people would not be confronted by the ravages of poverty if the great potentials for economic self-sufficiency which abound in the state is anything to reckon with”.
According to him, “our partnership with TEMPO is in tandem with one of our cardinal objectives of developing a strong and virile private sector driven economy as encapsulated in our 7-point agenda.
“However we still look forward to TEMPO’s expertise in order to develop a legal framework which will ensure that standards are established and codified within the tourism industry in Cross River State”.
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