The Governor of Abia State, His Excellency, Dr. Alex Otti will on Thursday 11th July 2024 commence the disbursement of Revolving Interest Free Loan to Nine Thousand Two Hundred (9,200) beneficiaries from across the 184 Wards of the State under the umbrella of the Abia State Cooperatives Support Scheme initiated by the Alex Otti led-government.
This first phase will see Fifty (50) beneficiaries each who have been selected from the 184 Wards of the state receive the Revolving Interest Free Loan to assist them in their different businesses.
As part of the ceremony to commence the disbursement billed to take place at the International Conference Centre, Ogurube Layout, Umuahia, on Thursday 11th July, 2024, only 5 beneficiaries per ward will be present to avoid a stampede, given the large number of beneficiaries. All the beneficiaries across the 184 Wards will subsequently receive transfer alerts afterwards.
The Launch of the Cooperatives Support Scheme followed a promise made by Governor Alex Otti during his campaign as the Governorship Candidate of Labour Party in the 2023 Governorship election to ensure that Abians, especially rural traders and farmers would be given the necessary finacial Support to boost their business activities as a way of fighting poverty, insecurity and rural-urban migration.
To ensure that the beneficiaries of the Interest Free Loans shall be those who genuinely need them, the state Chief Executive directed that fair and uncompromised selection proceas be done at the ward levels, a directive that was adhered to the fullest.
