RIMA: 887 Rivers People Get N388m Loan

The Rivers State Micro Finance Agency (RIMA) says it has so far disbursed N388 million out of the N2.6 billion given to the agency by Rivers State government to assist 887 business men and women in the state.

The Managing Director, RIMA Mr Innocent Iyalla Harry disclosed this, yesterday in Port Harcourt during a media parley.

Harry said the disbursement was in line with Governor Amaechi’s target to wipeout poverty from Rivers people.

He said the balance of the N2 billion is still up for lending, while calling on those who are yet to access theirs to do so.

According to him, the only requirement is certificate of origin from ones local government authority, regretting that some local government areas are yet to make good use of the opportunity.

He maintained that the project has come to stay, adding that it has worked in some foreign countries like India, Bangladesh etc

The RIMA MD, explained that its loan is refundable, though it has no fixed interest rate.

He pointed out that the unwillingness of people t pay back the loan is the major setback to the agency and called on the people to form community based co-operatives for easy access to the financial home.

He hinted that the agency would ensure that up to 40,000 Rivers indigenes benefit from its loan scheme this year.

He was of the view that it will no longer be business as usual, where politicians approach the agency and access loan without replaying stressing that the agency has worked on those imbalances and has taken necessary measures to ensure it does not repeat itself.

RIMA boss commended some microfinance banks that are involved in he pilot scheme, and charged them not to relent to enable the agency deliver the loans to the target beneficiaries.

He earlier called on local government chairmen to partner with RIMA in order to assist in he provision of logistics for the smooth operations of microfinance banks in their respective LGAs.