No fewer than 101 communities and farmer groups in Yobe state have received$2,525,000 as an interest-free community revolving fund loan under the World Bank-assisted project Agro-Climatic Resilience in Semi-Arid Landscapes, ACReSAL in the State.
While launching the second phase of the project, Governor Mai Mala Buni, stated that the interest-free loan was aimed at driving economic growth, providing employment opportunities, and creating wealth in farming communities.
The Governor directed the allocation of 4,825 slots out of the total 7,340 slots to youths to ensure maximum engagement and benefit from the community revolving fund loan programme.
“This occasion marks another milestone achieved by the state government in supporting 101 communities, in line with our policy on youth empowerment.
“It is an investment revolving facility sourced by the state government for communities and farmer groups to expand agricultural development and strengthen the role of communities in managing their environment for economic prosperity,” he said.
According to the governor, 10 pilot communities in Damaturu and Nguru local government areas received $25,000 (N32, 500,000) each last year.
He urged the beneficiaries to make judicious use of the loan and ensure repayment for the programme’s success, which would encourage 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,” he said.
The governor reiterated the readiness of the Yobe State Government to establish more partnerships with the federal government and other partners to improve the lives of the people.
He commended ACReSAL for the smooth process of identifying and guiding the benefitting groups to qualify and benefit from the scheme.
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