From Okey Sampson, Umuahia
Abia State Government and the Bank of Industry (BoI) are partnering to provide a N10b counterpart funding for Small and Medium Enterprises (SMEs) in the state.
Commissioner for Information, Okey Kanu who made this known at Government House, Umuahia while briefing journalists said the move was to empower and support SMEs in Abia.
“Abia state government has provided the matching funds in a N10b Abia State Government – Bank of Industry fund for SMEs in the state.
“This fund is meant to be accessed by SMEs across various sectors. The state government has paid up its counterpart funds of N2b, and Bank of Industry will provide the outstanding N3b, bringing it all to a total sum of N5b in the first phase.”
The figure of the second phase would also be in the like sum.
In a bid to reduce poverty and provide empowerment for the women in the state, Kanu said the state Ministry of Women Affairs, through its Livelihood Collective Project, has built 60 sites comprising garri and oil palm processing sites across the 3 senatorial zones of the state,
He disclosed that 21 of the sites are at Isiala Ngwa North LGA, 20, at Obingwa LGA, and 19 sites at Ohafia LGA, respectively.
This the Commissioner said underscored the high premium the state government placed on pulling out as many Abians as possible out of the poverty line.
“These women have been empowered with these projects, and we believe that is the way to go with our women folk.”
Kanu disclosed that plans are on top gear to ensure a successful flag-off ceremony of the Abia Medical City project coming up on May 23, which he said will be preformed by President Bola Tinubu.
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