National Directorate of Employment (NDE) in Kwara state has so far disbursed soft loans to cushion the harsh economic effect of COVID-19 pandemic to about 809 beneficiaries in the state.
The beneficiaries, who are made of mostly women petty traders, sellers of roasted plantain/corns, among other poor indigenes in the state, were given a sum of N10,000 each.
Speaking during the third phase of the disbursement exercise in Ilorin on Thursday, the state coordinator of the NDE, Builder Ademola Gabriel Adeyemo, said that the Director-General of the NDE, Dr Nasir Mohammed Ladan Argungu, had directed the third phase of the symbolic presentation of N10,000 to 809 beneficiaries under the Micro-Enterprise Enhancement Scheme (M.E.E.S) of the Small Scale Enterprise Department in the Directorate.
“Dr Argungu said the Soft Loan is channelled towards the impoverished, the poorest of the poor and traders who have exhausted their start-up capital through the adverse effects of the COVID-19 pandemic”, he said.
Adeyemo described the loan as timely and targeted towards the mandate of the NDE to provide succour for the upliftment of the vulnerable, by adding appreciable value to their lives, especially during the present crucial economic downturn of the world.
He reiterated that the essence of the loan is for the beneficiaries to pick up from their respective ravaged commercial activities.
The State Coordinator also said that the beneficiaries are expected to pay back after three months moratorium, adding that receipts will be issued immediately when they pay.
He urged them to be magnanimous enough to pay back for others to access the loan, adding that they will be opportuned to access higher loan advantage from the NDE thereafter.
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