Edo State Governor, Monday Okpebholo, has launched a N1 billion interest-free loan scheme targeted at traders and farmers across the state.
The initiative, unveiled at the Festival Hall of the Government House in Benin City, is designed to boost small and medium-scale enterprises and enhance agricultural productivity.
A total of 5,000 beneficiaries are expected to access the loan which comes with a 12-month repayment window.
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Addressing the crowd, Governor Okpebholo reiterated that the initiative is a fulfillment of his campaign promise to provide meaningful support to the grassroots economy.
He urged beneficiaries to judiciously utilize the funds to improve their businesses and livelihoods.
The State Commissioner for Finance, Emmanuel Okoebor stressed that the interest-free loan is a strategic move to reduce poverty, stimulate business growth, and strengthen the state’s economy.
(Editor: Okechukwu Eze)
