By Chris Ochayi

UYO—Determined to fast track development in the Niger Delta region, a Multi-Stakeholders Trust Fund, MSTF, has been established to mobilise funds for investments in the region.

The proposed MSTF is expected to solve the funding problems facing development in the region.

Under the arrangement, as contained in the Niger Delta Action Plan, MSTF will mobilise an additional $200 mllion (about N3.2 billion)  as the first tranche of funding.

The fund, according to the action plan, is expected through the proposed  MSTF, which is to provide a new, complementary, funding vehicle to support investments of high impact and short -term return, as it will serve as a catalyst for development by providing  grants to organisations/communities involved in the establishment of inclusive business models.

The fund,  which is being proposed in the new action plan for the oil rich region by the Federal Government through the Ministry of Niger Delta will focus on market development initiatives.