Abia State begins disbursement of interest-free loans to farmers

The Abia state government says it has commenced the disbursement of interest-free loans to 302 youths trained on agricultural ventures in the state.

The Commissioner for Information and Culture, Mr Okey Kanu, disclosed this on Monday during a press briefing on the outcome of the State Executive Council meeting at the Government House, Umuahia.

The government in February, sponsored 302 youths to receive training in various agricultural ventures at a Nassarawa-based farm, CSS Global Integrated Farms.

The commissioner said that the beneficiaries of the loans were sponsored for the training programme as part of government’s measures to boost food production in the state.

He said: “The process for the disbursement of interest free loans in 302 CSS farms trained youth farmers has commenced.

“This follows the flag off and approval of the disbursement of interest free loans by his Excellency, Dr Alex Otti sometime in September.”

He said that the state Ministry of Agriculture would ensure that the disbursement of the loans followed due process to ensure that the purpose for disbursing the funds would be realized .

“Beneficiaries will not be given one balloon payment rather the disbursement will be in tranches on milestones that will be tied to the level of extent of work done by the beneficiaries.

“All these are to ensure that the loans are adequately utilized,” Kanu said.

NAN / Foluke Ibitomi