Kwara Governor Launches N350M Interest-Free Loan Program

On Wednesday, in Ilorin, Kwara State Governor Mallam Abdulrahman Abdulrazaq initiated the distribution of N350 million in interest-free loans as part of the Kwara State Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) project, supported by the World Bank. A total of 1,000 beneficiaries from various community interest groups will receive N25,000 each.

The initiative aims to empower small business clusters, strengthen grassroots economies, and create employment opportunities, thereby contributing to poverty reduction. Governor Abdulrazaq urged beneficiaries to utilize the funds judiciously to achieve the project's objectives and ensure timely repayment, which will allow the funds to be recycled for future beneficiaries.

The project is designed to provide women, youth, and farmer cooperatives with access to resources that will enable wealth creation and uplift households.