Imo govt to establish 637 micro finance banks in rural communities

 

The Imo State government has revealed its plan to float Micro Finance Bank in each of the 637 Communities of the State, with its headquarters at Okigwe Road Owerri.

The State Governor Owelle Rochas Okorocha made this known while on facility tour of some projects in Owerri recently.

Governor Okorocha who disclosed that the State government in partnership with the Central Bank of Nigeria in the project, has equally obtained certificate and completed all necessary documentation for smooth take off .

He assured that the bank would be adequately funded by the State, stressing that about 2 billion naira has been earmarked for the bank.

Owelle Okorocha described the financial institution as a dream come through in the present administration bid to alleviate poverty in the state pointing out that “this will help the ordinary people in the village, the peasant farmers, traders to access loan.”

He further said that all Community Government Council (CGC) accounts would be created in the Imo Micro Finance Banks for easier access to the communities.