By Providence Obuh and Busayo Samuel

Umuchinemere Pro- credit Micro-finance Bank has disbursed about  N548.180 million facility in its half year financial statement.

A total of 2,210 active poor persons received the facility between January and June this year, according to report made available to Vanguard.

Further breakdown shows that a total of 1,182 female received a total of N247,048,200 while a total of 1,030 male received about N257,131,800 of the total facility within the period just as  447 persons received a total of N140,090,000 of the development.

Acting Head of Credit, Mr. Ikechukwu Ngene, said that fund disbursement was slightly below the bank’s target for the period owing to the usual low economic activities associated with the beginning part of the year and the uncertainties and general economic down turn that characterized the country’s last general elections.

“It is expected that the second half of the year would be robust, as economic activities after the elections are gradually improving and the bank having planned to roll out more attractive products for its esteemed and teeming customers.”

“An additional fund of N32.2m of the MSME Development Fund meant for disbursement to a supplementary list of beneficiaries will not only enhance the bank’s performance financially in the second half of the year but will also increase its customer base. The bank has set a N600m target for disbursement as loans for the second half of the year,” he said.

Speaking on development fund, Special Adviser on SME, Mr. Anayo Agu said “The fund was specifically intended to remove poverty in the land and it is for micro, small and medium businesses development and growth in Enugu State as any largesse from government. I am urging the fund beneficiaries to use the money to develop and improve their businesses and well being and repay as at and when due,” she said.