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    Monday, March 31, 2014

    Kaduna to spend N2bn on SMEs, Agric

    The Kaduna State Government said it would soon commence the disbursement of N2bn for the development of Micro Small Medium Enterprises in the state.

    The Commissioner for Finance, Alhaji Ismaila Aliyu, disclosed this on Monday in Kaduna at a workshop for managers of micro finance banks from the 23 local governments in the state.

    He said the money would also be used to finance agricultural activities.

    According to him, the aim is to promote economic activities and open up new areas of employment.

    Aliyu said the Bank of Agriculture and the state government had already contributed N500m respectively under a programme tagged, ‘Farmers Entrepreneurship Scheme’, to boost agriculture in the state.

    The commissioner added that another one billion naira had been contributed by the Bank of Industry and the the state government for issuance to medium and small scale enterpreneurs from April.

    “Part of the conditions is that women would receive 60 per cent of the loan while the youth will get 40 per cent,” he said.

    Aliyu said the workshop was meant to sensitise officials of the micro finance banks on the modalities for disbursing the loan and terms of recovery.

    In a remark, Mr Edward Marsha, the Executive Secretary, Kaduna State Industrialization and Micro-Credit Management Board, commended the state government for the initiative, saying that it was the first of its kind.

    Masha noted that micro finance banks have vital role to play in the development of MSME’s and urged the officials to be diligent in handling the loan process.

    The News Agency of Nigeria reports that the workshop has as its theme, ‘Lending Policy and Eligibility Criteria for Partner Micro finance Banks’.

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