The Kano State Commissioner Ministry of Commerce Honorable Rabiu Bako has disclosed that the state government, through the ministry in conjunction with the Commercial Bank of Industry have agreed to boost activities of small scale business in the state with a new round of loan disbursement.
Bako made this known on Tuesday, during a joint meeting between the ministry and a delegation of the bank at which modalities for the new phase of the exercise were drawn.
According to him, the state government had so far disbursed about 400 million Naira soft loan to traders in the state to boost commercial activities, which the state has always been known for.
He said, “The administration of Dr. Abdullahi Ganduje is committed to empowering small scale businesses in the state and in order to make things easier for our people, the state government has asked that the interest rate charged by the bank be reduced from 5% to 1.5% so that beneficiaries can pay back with ease.”
According to him, interested persons should apply as more windows would be given opportunity benefit from the project.
In his part, leader of the delegation Alhaji Ibrahim Bisallah stated that the bank has set up a debt recovery committee to recover funds disbursed during the first round of the exercise, which some persons have failed to pay back.
He called on the people of the state to make good use of the opportunity created by the state government under Ganduje, as the bank is always ready to work with the government to encourage small scale businesses, by providing funds to those in need to boost commercial activities in the state.
Yakubu Salisu, Kano