The Kwara State government has disbursed N268.6 million to 3,740 artisans and small business owners under its Micro-Credit Intervention Scheme for Small and Medium Scale Enterprises.
A statement by the Senior Special Assistant to the Governor on Media, Dr. Muideen Akorede, stated that the amount represents the first tranche of the N500 million intervention launched by Governor Abdulfatah Ahmad in April.
Governor Ahmad flagged off the N500 million scheme with a pledge to boost the capacity of SMEs in the state based on their strategic role in economic development.
At the event, the governor announced plans to accelerate commercial farming in the state with a N750 million intervention scheme for farmer cooperatives.
The N268 million was disbursed through 10 microfinance banks shortlisted for the exercise by the state government during the launch of the scheme.