sterling Bank disburses over N82m loans to small holder farmers in Gombe and Yobe states
Sterling bank has disbursed over eighty two million naira as loans to small holder farmers in Gombe and Yobe States to boost food security.
By Jessica John Bakari
Sterling bank has disbursed over eighty two million naira as loans to small holder farmers in Gombe and Yobe States to boost food security.
The initiative was in response to the global food and nutrition crisis.
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The programme is being Funded by the feed the future Nigeria Rural Resilience activity and implemented by mercy corps in collaboration with the interventional fertilizers development center and save the children international.
In a statement,the communication manager of Rural Resilience activity Mr Ayodele Adesanmi said the event held at Gombe State.
According to the statement,the recipients of the loan include women and youth farmers and agribusiness owners in the Northeast states of Gombe and yobe.
It added that many of the beneficiaries belong to cooperatives supported by mothern development foundation in Akko and Gwami Gombe State and in yobe and the sustainable household income and enhance livelihood initiative.
In a remark,the group head agric finance and solid minerals groups of Sterling bank doctor Olushola Obikanye said Sterling bank is proud to lead the effort in rebuilding the economic fortunes of North East Nigeria by providing demand driven financial services that align with the aspirations of Women and young people in the region.
He maintained improve the partnership will significantly improve the living standards of farmers and other vunerable people by boosting food sufficiency and poverty reduction as a prerequisite for deescalation of insecurity and conflict in the Northeast.
Doctor Obikanye said the loans are in response to rising food insecurity and inflation which are attributed to challenges that predate the Russian invasion of Ukraine such as the economic impacts of Covild19.
On her part,the Chief of party feed the future Nigeria Rural Resilience activity,Mrs Margarita Aswami said she is looking forward to ensuring that more farmers in the Northeast continue to gain access to finance and working capital.
The intervention covers maize,cowpea, groundnuts,Rice production and small Ruminants.
Posted by Abubakar M. Adamu
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