Govt Empowers 600 Market Traders
THE Bayelsa State Governor, Seriake Dickson has disbursed N5m as soft loan to Kpansia market traders in the Yenagoa metropolis, as part of efforts aimed at growing micro and small enterprises in the state.
The disbursement, which is being midwifed by the state-owned Izon-Ebe Micro Finance Bank, is coming barely a week after a similar interest-free loan facility was released to some beneficiaries of the economic empowerment scheme at the famous Swali Market in the state capital.
Speaking with newsmen during a brief ceremony to flag-off the disbursement at the corporate headquarters of the bank in Yenagoa, the Secretary/Legal Adviser of Izon-Ebe MicroFinance Bank, Ms. Patience Abah, disclosed that a total of 600 traders from the Kpansia Market have been penciled down as beneficiaries.
Out of this number, she said 200 have been picked as first batch beneficiaries of the revolving loan with a moratorium of six months, during which, they are expected to build up their capital before repaying the facility.
According to Abah, the loan is different from other ongoing empowerment programmes in the state, such as the Micro, Small and Medium Enterprises (MSME) Development Fund, describing the disbursement as a fulfillment of an earlier promise the governor made to the traders when he visited them.
While commending Dickson for releasing the funds in the face of the current harsh economic realities, she urged the beneficiaries to make judicious use of the loan and keep faith with the repayment arrangement to enable others benefit from the scheme.