The Federal Government has announced the extension of a loan facility with a 9% interest rate and a three-month moratorium period. This initiative, designed to provide financial support for impactful job creation programs, comes as part of a broader effort to alleviate poverty in the region.
The Director-General (DG) of the implementing agency expressed gratitude to the state government and other stakeholders for their collaborative efforts in combating poverty through job creation initiatives. Emphasizing the noble task at hand, the DG reiterated the importance of effective implementation to tackle poverty not only in Ekiti State but across Nigeria.
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The partnership between government entities and stakeholders underscores a collective commitment to fostering socio-economic growth and prosperity. By addressing poverty through targeted programs, both the federal and state governments aim to create opportunities for sustainable development and improved livelihoods for citizens.
With the loan facility offering a one-year repayment period, beneficiaries are poised to utilize the funds to establish and expand businesses, ultimately contributing to the economic transformation of the state. This initiative reflects a proactive approach by the Federal Government to empower individuals and communities, laying the groundwork for long-term prosperity and development in Ekiti State and beyond.
As the implementation of these job creation programs unfolds, stakeholders remain optimistic about the potential impact on poverty alleviation and economic empowerment. With concerted efforts and effective utilization of resources, the collaboration between government and stakeholders sets a precedent for future initiatives aimed at fostering inclusive growth and prosperity across Nigeria.
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