The Member of Parliament (MP) for Ablekuma West Constituency, Mrs Ursula Owusu Ekuful in partnership with Innovative Microfinance has given loans to over 1,500 people in the constituency.
The loan is expected to help the people to undertake new businesses or reinvest in their existing businesses, among others.
The loan scheme forms part of an initiative by the MP to help the constituents expand and establish their businesses through very flexible loan terms.
Speaking at the people’s forum in the constituency on Sunday, the MP admonished the people to pay back the loan facility to enable others to benefit from the scheme.
“I will urge those who think the monies are mine to eschew such thoughts and pay back the loan facility to enable others to benefit too. I wish I had such money to have given out for free. Instead of the company’s initial five per cent interest on the loan, I have decided to absorb half hence the interest will be a 2.5 per cent aimed at reducing the difficulty in repaying the loan,” she said.
She expressed the hope that the number of recipients would increase in a short period, depending on how quickly the beneficiaries pay the loans back.
Officials from the Innovative Microfinance Company took turns in educating the people on how to access the loans and assured them of a successful disbursement of the fourth batch.
By Times Reporter