Loans Disbursement to LIFE-ND Farmers.
The LIFE-ND project has partnered with financial institutions such as Jaiz Bank, SMEDAN and LAPO MFB to facilitate access to financing and savings for its beneficiaries’ agribusinesses across the states.
A batch of farmers collected the first cycle of loan size of N150,000.00 each, upon repayment, they collected N170,000.00 for the second cycle. The loans were used for their agribusinesses.
By focusing on improving sensitization and awareness, streamlining processes, and strengthening partnerships, these efforts have contributed to enhancing financial inclusion and fostering economic growth.
Continued collaboration and innovation in loan documentation, savings groups, pre-financing as well as off-taking and others will be essential for sustaining these positive outcomes in the future.
The farmers expressed satisfaction and thankfulness over the LIFE-ND project.
