• Bank to disburse loans at 10% interest rate
• Oyebanji warns beneficiaries, says offer not national cake
• Airport to commence commercial flight before year end, gov assures
Ekiti State Government, in collaboration with Access Bank, yesterday, launched N1 billion loan scheme for women in business in the state to support them with the needed capital, which would be repaid at 10 per cent of interest rate instead of lending rate of 35 per cent.
Governor Biodun Oyebanji, who spoke during the launch of the programme, said that the idea behind the initiative was to ensure that women are lifted in Ekiti through loans, so that they could contribute meaningfully to its economic growth.
The governor, who was represented by his deputy, Monisade Afuye, said that 25 out of the 35 per cent interest on the loan would be paid by the state government to make it easier for beneficiaries to repay the money to the bank.
He, however, advised the beneficiaries of the loan to use it for the purpose for which it was obtained, warning that it should not be seen as their own share of the national cake that won’t be paid back.
Managing Director of Access Bank Plc, Roosevelt Ogbonna, who was represented by the Regional Director, Branch Banking Southwest, Access Bank, Bolaji Aboderin, said that the initiative marked a significant milestone in the bank’s commitment to Inspire, Connect, and Empower women through its award-winning W-Initiative platform.
In another development, Oyebanji has assured that the state airport would begin commercial flight operations before the end of the year. The governor, who gave the promise during a one-day development partners’ meeting in Abuja, pledged to sustain the improved ease of doing business in the state under his leadership.
He said his administration is open for partnerships and engagements to attract investments and pave the way for local processing of solid minerals in the state.
The governor also said that the state government would make the ease of doing business a major selling point for Ekiti in the comity of states in the country.
He, however, said that officials of the Nigerian Civil Aviation Authorities (NCAA) and Federal Airports Authority of Nigeria (FAAN) are currently in the state for certification for commercial operations.
On his part, the new World Bank Country Director, Ndiame Diop, said the agency had committed over $200 million in Ekiti State with about $60 million disbursed so far.
Diop, who stated that the funds would focus on eight projects, called for effective collaboration from all Ministries, Departments and Agencies (MDAs) to ensure success of the projects.
Also, Head, subnational team, Foreign Commonwealth and Development Office, British High Commission, David Ukwuagu, said it would continue to strengthen its commitment to the state using its regional engagement.
The post Ekiti, Access Bank launch N1 billion loan scheme to empower women appeared first on Guardian Nigeria News.
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