KTSG/World Bank to inject N18b in to SMEs

From Lawal Sa’idu Funtua, Katsina

Katsina State Government in collaboration with the World Bank have concluded plans to disburse over 18 billion naira as interest free loan to businessmen women, farmers and vulnerable people in the state.
Alhaji Abdulkadir Mamman Nasir, the state Special Adviser on Empowerment Programmes, disclosed this shortly after a meeting with Malumfashi Traders Association.
Abdulkadir said over two hundred and seventy certified companies and private organizations have applied to access the loan and presently undergoing verification for disbursement.
According to him, the state government is to pay the interest of the loan on behalf of the beneficiaries, stressing that, a business clinic would be established at strategic locations to assist businessmen and women on how best to develop and improve their businesses.
The Special Adviser said the state government had already disbursed ten million naira to members of the traders association in each of the 34 LGAs in the state.
He however decried that, the beneficiaries of the loan were yet to commence the repayment of the loan, stressing that, companies or organizations that would benefit from the new loan must present valid documents to obtain the loan.
“They must have valid account number, BVN, collateral certificates and produce their corporate affairs commission registration receipts and three months revenue slips from the board of internal revenue amongst others”, he said.
He also added that, sixty percent of the loan would be disbursed to women to improve their petty businesses.