
World Bank Yobe Govt Gov. disburse $2.5m to 101 Communities
Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL), a World Bank-financed project in collaboration with Yobe Government launched a second disbursement of $2,525,000 non-interest Community Revolving Fund loan to 101 communities and farmer groups in the state.
Governor Mai Mala Buni made this known at the presentation of cheques to the beneficiaries on Saturday in Damaturu, the state capital.
Buni said the Non interest Community Revolving Fund was aimed at driving economic growth, provide employment opportunities and create wealth.
“It is an investment revolving facility sourced by the state government for communities and farmer groups to expand agricultural developments and strengthen the role of communities in the management of their environment for economic prosperity.
“This occasion is another milestone achieved by the state government by supporting 101 communities, and in line with our policy on youth empowerment, l have directed the allocation of 4,825 slots out of the total 7,340 slots to the youths for maximum engagement and benefit of the Community Revolving Fund loan programme” he said.
According to the Governor, 10 Pilot communities in Damaturu and Nguru Local government areas received $25,000 (N32,500,000.00) each last year.
“Reports reaching my office indicate that the benefitting communities and farmer groups have made good use of the facility, and commenced the repayment to sustain the revolving scheme, and afford others the opportunity to benefit” Gov. Buni added .
He charged the beneficiaries on judicious use of the loan and ensure repayment for the success of the programme to spur the government to introduce more incentives.
“We have a duty to join hands to effectively combat economic, environmental and other social challenges for the betterment of our people and the state”.
The Governor commended ACReSAL for the smooth process of identifying and guiding the benefitting groups to qualify and benefit from the scheme.
Mr Abdul Hamid Umar, the ACReSAL National Coordinator, commended Yobe Government for providing enabling environment for the project to thrive in the state.
He said that the good people of Yobe had not only accepted the project but also had a complete understanding and had keyed into the project.
He also identified ACReSAL staff strength, dedication, and team spirit as another factor for the success of the project in the state.
Earlier, Alhaji Shehu Mohammed, ACReSAL Project Coordinator in the state, explained that the revolving fund was not a grant but an investment loan aimed at revitalising agricultural practices.
He said Yobe was among eight pilot states selected by the World Bank for the implementation of the Community Revolving Fund scheme.
Malam Ba-Isa Karasuwa, speaking on behalf of the beneficiaries, thanked Governor Buni for revamping the agricultural sector in the state and assured that they would utilise the fund judiciously.