The Central Bank of Nigeria (CBN) in pursuit of it's quest to properly disburse N220 billion Micro, Small and Medium Enterprises (MSME) fund has pledged to allocate 60% of this amount to women owned businesses. The purpose of the scheme is to to channel low interest loans though State govenments, commercial bank and micro finance banks to small business towards economic empowerment and job creation to the grassroot.
The CBN's Director of Communications Alhaji Ibrahim Muázu said the objective was to unlock the potential of small businesses through credit support and taking such enterprises to positions where they would be able to create jobs and reduce poverty among the citizenry. Mu’azu hinted that a huge channel had been created for the administration of the loans through private or state owned microfinance institutions, finance houses, as well as commercial banks.He also said that successfully accessing the fund will require prospective borrowers getting them acquainted with the drawn down procedures and providing the needed information that enable their banks consider the loan requests.
No comments:
Post a Comment