- Approval of the Project Facilitation Fund (PFF) documents for implementation for the World Bank State Action on Business Enabling Reforms (SABER) programme.
The approval was in furtherance of Ekiti State Government’s participation in the World Bank State Action on Business Enabling Reforms (SABER) programme and fulfilment of a major criterion under Disbursement-Linked Indicator (DLI) 3 Development of an Effective Public Private Partnership Framework which expects the State to develop and publish Project Facilitation Fund (PFF) documents.
The documents are:
i. Ekiti State Infrastructure and Investment Facilitation Fund Regulation
ii. Ekiti State Project Facilitation Fund (PFF) – Business Plan and Financial Plan and
iii. Ekiti State Project Facilitation Fund (PFF) – Governance and Operational Manual
These documents outline the recommended Structure, Governance and Operational Modalities consistent with national Public Private Partnership (PPP) policies and international best practices. They are intended to serve as practical reference guides to help States design and manage their funds effectively and transparently.
In preparing the documents, the Ekiti State Development and Investment Promotion Agency (EKDIPA) considered Ekiti Wealth Fund Law 2023 as the legal instrument for the PFF. The PFF was reviewed and cleared by the Nigeria Governors’ Forum (NGF) Secretariat for use. In addition, all the three documents were prepared with technical support from the NGF via a series of virtual review sessions.