Gov AbdulRazaq begins distribution of $250,000 interest-free loans to Kwara residents

By Mosunmola Ayobami, Ilorin

Governor AbdulRahman AbdulRazaq of Kwara State has flagged off the distribution of 250,000 dollars (350M) in interest-free loans to support small businesses across the state.

The loan scheme is designed to empower about 1,000 residents and boost economic activities at the grassroots level.

Beneficiaries were selected from different community groups, with each group receiving 25,000 dollars to support their businesses.

Sources disclosed that the programme Is funded by the World Bank under the Community Revolving Fund initiative and implemented through the ACReSAL project in the state.

Speaking at the event, the governor said the initiative is aimed at improving livelihoods and strengthening the local economy.

He urged beneficiaries to make good use of the funds and ensure prompt repayment so that others can also benefit from the programme.

Also speaking, the Commissioner for Environment, Nafisat Musa Buge, said the success of the scheme depends on how well the loans are used and repaid.

In their remarks, the Emir of Shonga, Haliru Yahaya, and a beneficiary representative, Abdulkareem Olapeju, commended the governor, describing the initiative as beneficial and impactful for communities.