Mr Edward Masha, the Executive Secretary, Kaduna State Industrialization Micro-Credit Management Board, said this in an interview with the News Agency of Nigeria.
Masha said by so doing, the state government intended to reduce poverty and create employment opportunities among the citizenry.
“We have various people that stand to benefit, which include the unemployed, people already in the business and those seeking for more capital expansion.
“We look at graduates with ideas that need to be encouraged to be on their own; this is because with the level of unemployment, government alone cannot carry the burden”, the executive secretary said.
He added that the fund would only be given to beneficiaries through micro finance banks located within the state.
Masha said that the government was also encouraging youths in the state to acquire skills that would make them self sustaining.
“We are not just interested in the distribution of the money that would be returned in six months, but we are interested in people that would get the loan, expand their businesses and employ others, as well as increase their wealth”, he said.
Masha said Gov. Mukhtar Yero had approved the training of the beneficiaries to curb mismanagement of the fund, and had engaged the DFID to monitor utilisation.
According to him, the board is yet to disburse the intervention funds for the year, as it is still improving on its lending policy.
The executive secretary disclosed that more than 5,000 small scale entrepreneurs had benefited from loans granted by the board since its establishment in 1998.
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