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Microcredit Training Plan

Mar 31 2016

 

 

 

This intervention involves extending microcredit and agricultural loans to artisans’ groups, women organisations, market unions and agricultural cooperatives for on-lending to individual members or for the acquisition of common production facilities/equipment.

Loanable funds can be mobilised from existing financing windows including the CBN’s Micro, Small and Medium Enterprises Development Fund (MSMEDF), Nigerian Incentive-based Risk Sharing Agricultural Lending Scheme (NIRSAL) and Real Sector Support Facility (RSSF).

Objectives:

Microcredit and agricultural loan schemes are designed to facilitate the supply of loans to artisans, farmers, traders, etc. to expand their enterprises and create jobs.

Programme Design:

The operational elements of the scheme are as follows:

i.   Affordable loan conditions with liberal repayment terms

ii.   Group-based loans; and

iii.  Monitoring.

 

Participants/Beneficiaries

 The participants will be group-defined as follows:

i.      Artisans’ associations (300 persons);

ii.      Market unions (inclusive of women-only unions) 300 persons; and

iii.     Multipurpose cooperative societies (inclusive of women-only cooperatives) - 900 persons.