Governor AbdulRazaq Launches ₦350m Interest-Free Loan Scheme for Kwara Residents
Governor AbdulRahman AbdulRazaq has launched a ₦350 million interest-free loan scheme aimed at supporting 1,000 residents across Kwara State, as part of efforts to boost small businesses and strengthen local economies. Each beneficiary will receive ₦350,000 under the Kwara Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, implemented in partnership with the World Bank through its Community Revolving Fund.
Speaking at the launch in Ilorin, the governor said the initiative is designed to empower women, youths, farmers, and cooperative groups by providing access to financial resources needed to create wealth, generate employment, and reduce poverty. He urged beneficiaries to use the funds responsibly and ensure timely repayment to allow others to benefit from the revolving scheme.
The Commissioner for Environment and Chairman of the ACReSAL Steering Committee, Nafisat Buge, noted that the programme’s success depends on beneficiaries’ commitment to repayment, adding that it also supports rural communities with improved access to potable water.
Project Coordinator Shamsideen Aregbe described the initiative as a reflection of the administration’s commitment to inclusive development, while community leaders, including the Emir of Shonga, commended the government’s efforts. Beneficiaries also expressed appreciation, describing the loans as a life-changing opportunity for economic growth and stability.
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