Anambra Govt Introduces ASBA Civil Service Solution Soft Loan Empowerment Program for Civil Servants
By MaryAnn Chukwuma
The Anambra State Government through its agency, Anambra Small Business Agency (ASBA) has presented a soft business loan package to workers within the state to cushion the harsh economic realities in the nation occasioned by the removal of fuel subsidy.
This development was made known during a sensitization meeting organised by the agency at the office of the Head of Service Hall, Chief Jerome Udorji Secretariat Complex, Awka.
Addressing the workers, the Head of Service (HOS), Barr. Okwy Igwegbe, encouraged Civil Servants within the state to avail themselves the opportunity to raise working capital for their small and micro businesses.
Barr. Igwegbe urged them to form themselves into 10 member cooperative which is a requisite for the soft, low interest loan.
The HOS reminded the workers that the package was designed by the Governor, Prof. Charles Soludo and as such expected that through this, Anambra workers would no longer be neck deep in debt through high interest rate borrowing from other financial institutions.
She, then, thanked the governor for the gesture shown to workers especially at this critical times, promising that her office would ensure that every certification and verification necessary for workers would be done judiciously so as to enable proper loan recovery.
Earlier, the Managing Director of ASBA, Sir Clem Chukwuka while introducing the 'ASBA Civil Service Solution, Soft Loan Empowerment Program' described the program as a life saver for Civil Servants.
Mr. Chukwuka explained that the loan which was only on 9% interest rate as against the 25-30% interest rate loans which workers access from other financial companies remained the most flexible at this times.
The ASBA boss, then, encouraged workers to make haste while it shines since accessing such funds could help them in developing farms, or other micro businesses which could augment their income and help them secure a happy retirement.
He, however, told them that since the loan was on indemnity, clearance must be got from the office of the Head for all the individual members forming co-operaratives, and the debt profiles of such individuals must be analyzed before funds are released to the cooperative for onward distribution among themselves.
Mr. Chukwuka also reminded the workers drawn from the 21 ministries that the loan would not be for frivolity rather for investment and only workers who still have up to 2 years before retirement would be eligible for the empowerment loan.
The three times award winning ASBA chief then praised Gov. Soludo for remaining steadfast to his promises to alleviate poverty from the state, noting that this program as designed would also in time trickle down to other persons in Anambra who are not Civil Servants. (Ministry of Information)
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