The Bank of Agriculture (BoA) has proposed a N2 billion collaboration facility with the Enugu State government to support the state's growing commercial agriculture and development project.
In the proposal, BoA is offering Enugu State government a collaboration fund of N2 billion to provide lending resources to support its commercial Small and Medium Enterprises (SME) farmers and other agricultural value chain entrepreneurs.
Part of the fund could also be used to target youths and/or women in agriculture or any crop or value chain point the state government may choose based on its intervention priorities.
For the scheme, BoA is offering the state up to N1billion on counterpart and matching fund basis, which means that the state government would also invest equal amount of N1billion to finance different agricultural and agro-allied interests of the state and its people.
The proposed scheme would provide agricultural credits to about 6, 000 farmers and agribusiness activities in the state; create direct employment for over 12, 000 residents of the state and another 5, 000 people along the agricultural value chain.
Source: Enugu to enjoy N2bn Bank of Agriculture facility (http://nationalmirroronline.net/new/enugu-to-enjoy-n2bn-bank-of-agriculture-facility/)
Congratulations to the state i must say cos this will surely go a long way. Very good move