Chinwe Ochu
2 August 2008
Abuja — The Federal Government has secured a grant of N590 million from the Islamic Development Bank (ISB) to empower Nigerian women economically and contribute to the realisation of the Millennium Development Goals (MDGs).
Minister of Women Affairs and Social Development, Hajia Saudatu Bungudu disclosed this at the mid- term review meeting of the 10th Regular National Council of Women Affairs in Abuja. She further stated that to indicate the Federal Government's commitment towards the welfare of women,17,049 women in 25 states have accessed N150million through the Women's Fund for Economic Empowerment (WOFEE).According to Bungudu, "I am pleased to announce that my Ministry is about to secure a grant of over five million US dollars from the Islamic Development Bank to support our efforts at wealth creation and poverty reduction amongst women at the grassroots level, as a way of contributing to the success of the seven- point agenda of Mr. President as well as the women empowerment targets of the MDGs."
She expressed the government's commitment to assist women in securing bank loans and access the funds without bureaucratic bottle necks. She said, "We have finalised the modalities to enable women from the funding window titled "Business Development Fund for Women (BUDFOW). This is in collaboration with the Bank of Industry as a soft credit facility targeted at women entrepreneurs recognized by the Ministry. This is aimed at assisting them to overcome stringent conditions for getting bank loans."
According to her, "There is the need for generating continuous awareness, sensitisation and advocacy to enlighten the public on projects and programme that have direct bearing on the overall well- being of women."
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