The Imo State Government has set aside the sum of N2 billion revolving loan to support micro, small and medium enterprise business owners and farmers in the state.
The government disclosed this at the commissioning of the new branch of the Imo State Micro Finance Bank in Ife Community, Ezinihitte, Mbaise Local Government Area of Imo State.
The Imo State Governor, Rochas Okorocha, who was represented by the newly appointed secretary to the Government of Imo state George Eche said the new bank will no doubt boost the economy of the area and also create job opportunities.
The Economic Adviser to Imo State Governor, Ikechukwu Njoku, said the establishment of the bank in Ife community is to help boost the financial autonomy in the rural areas by supporting micro, small and medium scale enterprise and agriculture, which contributes largely to the growth of the economy of any state
The Imo State Governor, Rochas Okorocha, represented by the Secretary to the Government of Imo state, George Eche, said the initiative is in line with the Okorocha-led administration’s vision to industrialise the state by creating job opportunities, support for agriculture and growing micro, small and medium scale enterprise.
The Imo State Commissioner for Finance, Obinna Mbata, urged the people of the community to take advantage of the loan to establish their businesses and stabilise the economy of the area.
The government also promised to commission the micro finance bank in some other parts of the state to boost the economy of the state.