BoI disburses loans to 250 women entrepreneurs in Kwara
The Bank of Industry (BoI) under the Federal Government social intervention fund, has disbursed entrepreneurship loans to over 250 women in Kwara State, noting that the objective was to provide access to capital to market women, traders, artisans, enterprising youths, small scale farmers and agricultural workers nationwide.
Besides, the Development Finance Institution (DFI) reiterated its commitment to drive entrepreneurship development in the country, maintaining that supporting and encouraging Micro Small and Medium Enterprises (MSMEs) is the fastest way to achieve economic development in the country.
Indeed, the first lady of the Kwara State government, Mrs. Omolewa Ahmed, lauded the bank for its strides towards entrepreneurship development, stressing that the disbursement is another step towards economic empowerment and self sustenance for the Nigerian economy.
Ahmed, during the presentation of certificates to beneficiaries of the fund, assured BoI that the funds would be judiciously put to use by the women in Kwara State, adding that the state’s indigenes are women of integrity and hard working people who seek credible platforms o expand their business activities.
In her words: “There can be no sustainable development if the tangible and intangible barriers which hold back women development are not addressed. Women are powerful agents of change and empowering women will benefit the whole society.”
Citing the United Nations Development Programme (UNDP), she said women work 73 per cent more than men, stressing that there is a continued insignificant inequality between women and men, the level of formal participation in the labour market, entrepreneurship and access to credit.
She commended the bank for allowing women in Kwara to benefit from the social entrepreneurship programme.
Also, the Senior Manager, Micro Enterprise Directorate, BoI, Mrs. Eniola Akinsete, said the event was also to celebrate the international women’s day with the first lady of Kwara State government and also to launch the partnership between the bank and Leah Foundation on the disbursement of loans.