Kwara Governor Launches N350M Interest-Free Loan Program

On Wednesday, October 25, 2023, Kwara State Governor AbdulRahman AbdulRazaq officially launched a N350 million interest-free loan initiative designed to empower 1,000 residents across the state. The program aims to support small business clusters, enhance the local economy, and promote sustainable development.

Each beneficiary will receive N350,000 as part of the Kwara Agro Climate Resilient Semi-Arid Landscape Project, implemented in partnership with the World Bank. During the flag-off ceremony in Ilorin, AbdulRazaq urged beneficiaries to utilize the funds responsibly and repay them promptly to enable others to benefit from the World Bank's support.

The initiative specifically targets women, youth, and farmer cooperatives, providing them with access to resources that will help create wealth, generate employment, and uplift households, thereby contributing to poverty reduction. Nafisat Buge, the chairman of the steering committee, emphasized that the program's success hinges on the beneficiaries' commitment to repaying the loans.