The Kwara state government, under the leadership of Governor Abdulrahman Abdulrazaq, flag off the disbursement of micro-loan support for traders across the state.
Governor Abdulrazaq disclosed this in a statement made available on his Twitter handle on Friday.
According to him, the disbursement which has kicked off and to be benefited by 21,623 traders across the state, is to assist the market men and women scale up their business.
Governor Abdulrazaq, who reiterated that the fund is no person money but the government’s, implored the beneficiaries to pay back the loan, emphasizing that paying it will enable them qualify for a greater loan in the next phase.
The Kwara Social Investment Programmes (KWASSIP) program tagged “owo isowo”, meaning “trade money”, is part of the Kwara State government’s effort in aiding the traders in the state in improving their businesses, especially at this time of pandemic.
Speaking further on the kick off of the micro-loan disbursement, the governor said the program started at the peak of the COVID-19 pandemic when there’s total lockdown nationwide.
He said is started with transport workers during the lockdown, by supporting them with micro loan.
The tweet read partly; “The scheme started during the lockdown, when we supported transport workers with micro-loan so as to ease the effect of restricted movement on their income. Soon, we will kickstart KWCTP (Owo Arugbo) for the vulnerable among the aged.”
Speaking further, Abdulrazaq stated that the government’s target is 100,000 beneficiaries in the first stage of the Kwara Social Investment Programmes.
“In all, we are looking at about 100,000 beneficiaries for the first phase of the Kwara Social Investment Programmes (KWASSIP)” he concluded.
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