The National Poverty Eradication Programme (NAPEP), FADAMA and RUFIN have in the Conference Hall of NAPEP signed a Memorandum of Understanding (MoU) for the development of grassroots agricultural microcredit programme.
NAPEP developed the Grassroots Agricultural Microcredit Programme in a bid to meet the needs of extremely poor and vulnerable groups through its social safety net initiative, designed to provide micro-credit funds, financial and entrepreneurial education for rural communities.
The Senior Special Assistant to the President, who is the National Coordinator of NAPEP, Mukhtar Abubakar Balewa revealed this in his opening speech at the signing ceremony, indicating that the project is to be piloted in twelve states of the federation.
According to him, the flagship of the programme is targeted at the upcoming dry season farming as well as the wet season, horticulture and livestock farming.
He further explained that over one hundred million naira has been set aside for disbursement to beneficiaries and additional one million naira earmarked for capacity development, financial education, monitoring and evaluation by all partners.
“NAPEP is partnering with FADAMA which has the track record of working at grassroots level with farmers, as well as RUFIN which has provided a list of credible microfinance institutions known for their ‘hands-on’ work with the poor. The lesson to be learnt from this pilot scheme will direct the conduct of future microcredit programmes of NAPEP,” the National Cordinator emphasized.
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