RIMA Set To Disburse N23m …Targets 40,000 People For Empowerment

The Rivers State Micro Finance Agency (RIMA) is now set to disburse the N23 million loan provided by Prince Tonye Princewill to women in the 23 Local Government Councils of the state.

The Managing Director/Chief Executive Officer of the agency, Sir Innocent Harry, said the money will be accessed through micro finance banks in the state.

Harry who spoke with newsmen in Port Harcourt Monday, noted that the would-be beneficiaries must pass the agency’s test.

Such test, he explained, will include ownership of a viable business, saying that applicants must come from one of the local government councils.

The Tide learnt that each LGA will receive N1 million to distribute among women at low interest rate.

According to him, each women may not access more than N100,000 adding that the agency will ensure that the loan is paid back when due.

Going by the calculation, about 2,300 women are expected to benefit from the pilot scheme in the 23 local governments.

He stated that his agency is targeting to empower 40,000 people in the state before the end of this year.

The RIMA boss, who lauded Princewill for his gesture, called on public-spirited individuals as well as companies operating in the state to key in and provide loan schemes, adding that the agency is trustworthy.

Also speaking, the provider of the loan, Prince Tonye Princewill, said it was part of his efforts to reach out to the poor.

Princewill admitted that poverty is prominent in rural areas, hence the quest to eradicate it (poverty) among the people.

Though not given as charity, he expressed hope that it will go a long way in assisting women in their various businesses.