Edo State begins disbursing N1bn interest-free loans to 5,000 traders and farmers
Image Credit: dailytrustEdo State Governor Monday Okpebholo has started distributing a N1 billion interest-free loan scheme to traders and farmers in the state as part of fulfilling his campaign promise to provide soft loans.
The scheme will benefit 5,000 traders, each receiving N200,000 with a 12-month repayment period and a one-month moratorium.
The Commissioner for Finance, Emmanuel Ehidiamen Okoebor, said the loan will boost rural and semi-urban economies, create jobs, and reduce poverty by allowing beneficiaries to expand their businesses without interest charges.
This initiative is aimed at inclusive economic growth by ensuring funds reach grassroots traders and farmers directly.
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