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July 10, 2024

 Abia govt to launch N1bn interest-free loan for 9,200 residents

 Abia govt to launch N1bn interest-free loan for 9,200 residents

By Ugochukwu Alaribe

Abia State government will tomorrow launch a N1 billion interest-free revolving loan under the Abia cooperatives scheme for 9,200 residents from the 184 wards of the state.

Commissioner for Information and Culture, Okey Kanu, who disclosed this at Government House, Umuahia while briefing journalists, explained that 50 beneficiaries have been selected from each of the 184 wards in the state to benefit from the first phase of the loan scheme.

He stated that the scheme, which is an interventionist programme, is designed as a form of palliative as well  as an  empowerment programme that would help turn around the lives of the beneficiaries.

The commissioner further explained that the short, medium and long-term  impacts of the scheme will no doubt have a salutary effect on the state’s economy.