By Victor Efeizomor In Asaba

Delta State government has said it will pay N90 million to offset the 9 percent interest rate on the Central Bank of Nigeria's (CBN's) N2 billion micro, small and medium enterprises development loan to the state for disbursement to small and medium scale entrepreneurs.

Governor Emmanuel Uduaghan who stated this on Tuesday during the official disbursement of the first tranche of the funds in Asaba, maintained that his administration would continue to develop human creative capacities forthe creation of economic values.

Uduaghan said besides the cluster groups, internally displaced persons (IDPs) from the Northern parts of the country and physically challenged persons (PCP) must benefit from the loans.

He promised that his administration would shoulder any cost arising from the disbursement of the funds to the benefitting entrepreneurs.

“Let me assure the CBN that the money will get to those whom it is intended for, and whatever logistics that would be involved, the state government will take responsibility and also pay the nine percent interest rate so that it will get to the beneficiaries at zero per cent,” the governor assured.

http://www.thisdaylive.com/articles/delta-declares-cbn-n2b-loan-interest-free-for-beneficiaries