Delta Spends N2.7bn On Micro-Credit Programme

D

elta State Government?said
it?spent?N2.7 billion on?Micro-Credit programme in the last seven years.

The Commissioner for Poverty Alleviation, Dr Antonia Ashiedu, said?this in Asaba while briefing newsmen on the activities of the ministry, recently.

Dr  Ashiedu said that out of the N2.7 billion, N50 million was deposited as the state contribution to Central Bank of Nigeria Trust Fund Model.

Ashiedu said?that the state micro credit programmes was launched in 2007 at the three senatorial districts of the state?to combat poverty at all levels?through the enhancement of sustainable activities of the active poor.

“The programme is implemented in partnership with 27 Micro Finance Banks located across the state and Bank of Industry.

“And at present, three Faith-Based Organisations are?partnering with the state micro credit programme.’’

Ashiedu said?that the micro credit programme was being financed under four categories – trading, cottage industry, agriculture, and service industry.

She said that the micro credit was being disbursed through the micro finance banks after?the presentation of certificates to successful groups in the various local government areas.

The commissioner?said?that the certificates qualified?the beneficiaries to access the loan through their micro finance banks.

“The gestation period for the loan is three months, repayment is 12 months.

“And the post disbursement activities include monitoring and evaluation of the beneficiaries’ projects, and writing of the monthly and annual reports on the activities of the beneficiaries.