The Cross River State government has reiterated its dedication to encourage entrepreneurship and strengthen business development incentives in the state.
This was made known by the state Governor, Prof. Ben Ayade while launching the State Action on Business Enabling Reform (SABER) during the Business Environment Reform Summit and Workshop for the Technical Working Group (TWG) on the Ease of Doing Business in Calabar.
Governor Ayade, represented by the Honorable Commissioner for International Development Cooperation, Dr. Inyang Asibong, said Cross River State Enabling Business Environment Council (CRS-EBEC) was put in place as a replica of the Presidential Enabling Business Environment Council (PEBEC) to propagate business development in the State.
Highlighting the program, Ayade said SABER is a 3-year performance-based intervention designed by the World Bank Technical Team and the PEBEC Secretariat to enhance implementation of business reforms via incentives, primarily through results-oriented financing to states.
Speaking also, the Director-General, Cross River State Investment Promotion Bureau and State SABER lead person Barr. Rosemary Tutu-Ekeng said the launch was organized to improve the state’s financing through the various business development models.
Through the financing, Cross River State could be entitled to a financial package of around $52m of the total sum of $750m which represents 36% of the $2 billion SABER program expected to run between 2022 & 2025. This figure represents the recurrent expenditure of key MDAs at the federal and state levels in the country.
The launch was attended by the World Bank SABER Consultant for the State Mr David Uzosike, State SABER focal person Mr Okah Inah, CRS Consultant on Investment Mrs Tola Johnson among other critical stakeholders of the State, the World Bank and SABER program.