NGO disburses N27m soft loans

A non-governmental Organisation (NGO) in Bauchi, Rahma Women Development Programme, has disbursed N26.9 million as soft loans to 430 women in 2011. Its Programme Officer, Hajiya Hadiza Musa, made this known to newsmen in Bauchi recently. She said that each of the beneficiaries was given N10,000 at the initial stage, while at a later stage, the loan could be increased to N50,000, if there was no default in payment. She added that the repayment period was six months, with effect from the date the loan was disbursed. Musa said each of the prospective loanees was expected to deposit N2,000 as collateral security. ``Women are encouraged to form groups and each of them will be given the amount of money requested for, and they would serve as one another's guarantor. ``If you are able to collect and pay loan on three different occasions, then you alone can apply for N50,000,'' she said. Musa further explained that through Partners for Development, the NGO was also able to disburse about N12.3 million to women to enhance their businesses. Speaking on 'Leadership Empowerment Advocacy and Development (LEAD),' Musa said the NGO had so far sensitised 10 out of the 12 wards in Bauchi Local Government Area on governance. She said the project was to enhance grass roots participation in socio-political and economic activities in recent times.
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