10 November 2009
Lagos — Anambra State yesterday scored another first by the launching of the 2.5 Billion Naira microfinance scheme, which is a collaborative efforts between the State Government and Access Bank Plc.
Performing the take-off ceremonies for the Scheme yesterday at the Women Development Center, Awka, the Governor said that the projects was part of the resolve by his administration to empower the people towards self reliance.
He said that such programmes and positive empowerment, different from those who understood empowerment as the sharing of the resources of the State, would go a long way to contribute to the sustenance of the socio economic programmes of the Government.
On the reason for the Scheme, he said that it would provide a future for the people of the State and create a lot of opportunities for those genuinely interested in self actualization. He frowned at those who talk about job creation without understanding the dynamics of the working of the economy.
In his words, governments don't create jobs, but enabling environment for industries and trade to flourish.
The provision of credit to those who would make good use of it, according to him, is a form of enabling environment.
In his welcome address, the Chairman of the State Committee on Microfinance, Mr. Eze Echesi said that the singular vision of Gov. Peter Obi that had transformed Anambra State through myriad of projects, including the microfinance project being launched. He said that though pockets of micro credit scheme existed in the State, but that the one being launched was the flagship, intended to empower the active poor in the society to set up or strengthen existing micro and small enterprises.
For effective operation of the scheme, he said that workshops would be organized in all the local Government areas of the State. He promised that his Committee, which comprises himself, representatives of the Access Bank Plc, Central Bank, Microfinance bank operatives, among others, would ensure the success of the scheme.
In his own remarks, the Consultant to the Scheme, Innocent Ilozumba said that the scheme was revolutionary and thanked the Government of Anambra State for her responsiveness to the needs of the time
The consultant said that the scheme was for the active poor and was only open to Anambra indigenes both leaving in or outside the State.
He said the maximum amount to be loaned was 500,000 thousand Naira and that security would be in the form of proven good character of the borrower and not tangible assets.
The Consultant said that Access bank would release the 2.5 Billion to accredited banks within one month, which would now release it end-users within two months of completing application formalities.
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