The Anambra State Government Friday flagged off the disbursement of N1billion to small business enterprises through the Anambra State Small Business Agency (ASBA).
The agency, according to its Managing Director and Chief Executive Officer, Clement Chukwuka, is encouraged to go ahead with the loans because the N1billion Small and Medium Enterprises loans granted last year “have almost zero default rate as no obligor has defaulted in their monthly repayment obligation”.
He said at the flag-off of Anambra farming season at Umunze in Orumba South Local Council that what was being disbursed was N500million being the first tranche of the N1billion single digit interest loan facility, recently received from the Central Bank of Nigeria.
According to him, beneficiaries have been carefully screened to reflect government major pillars of economic development in agriculture, industries, trade and commerce and logistics while ensuring that no local government is left behind in producing beneficiaries.
Chukwuka said an estimated 15,000 micro credit beneficiaries are expected to benefit from the scheme and that the fund is distributed at the ratio of 60 percent and 40 percent to females and males respectively.>>full story>>http:///aJ54rt