Business
RUFIN: Imo, Edo yet To Pay Counterpart Funds
Imo and Edo States are yet to pay their counterpart funds toward the implementation of the seven-year Rural Finance Institution Building Programme (RUFIN) which started last year, The Tide gathered.
RUFIN is receiving funding from the International Fund for Agricultural Development (IFAD) to strengthen rural microfinance institutions to enable them to secure financial services for the rural poor.
The programme, targeted at women, youths and the physically challenged, is also aimed at enhancing the income, agricultural productivity of the beneficiaries as well as boost rural micro-enterprises.
In an interview with NAN on Monday in Abuja, Alhaji Musibau Azzez, the RUFIN National Coordinator, disclosed that the two states were in arrears of N24 million each of the 2010 and 2011 counterpart funds.
He noted that the inability of some state governments to promptly pay the counterpart fund constituted a challenge to the implementation of donor-assisted programmes.
According to him, the development has slowed down work in the affected states while the other 10 participating states are doing very well in their various ongoing agricultural and rural development projects.
He said that states offices have been fully established with local government offices in the 36 selected local government areas in the 12 participating states.
Azzez commended the Federal Government for the prompt provision of its counterpart contribution.
“The Federal Government has, to date, lived up to its financial covenant under the programme; all the key partners have equally paid, except Edo and Imo, while the programme had surpassed all indicators within the first year of operation,” he said.
In a separate interview with newsmen, Dr Benjamin Odoemena, the IFAD Country Programme Officer in Nigeria, noted that the lack of political will was hampering programme implementation.
Odoemena said that one of the conditions of implementation was the payment of counterpart fund.
According to him, all efforts to get the Imo and Edo governments to pay their counterpart fund arrears had not yielded positive results.
However, he said that RUFIN would continue to dialogue with them to ensure that they settled outstanding counterpart funds.
The Tide source said that RUFIN, in collaboration with the CBN, had facilitated the formation of Micro Finance Institutions in all the six geo-political zones.
Implementation of RUFIN is expected to cost 27.2 million dollars.
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