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01.06.2005 Regional News

Form co-ops to get micro-credit - Rural communities urged

By GNA

Gomoa Dawurampong (C/R), June 1, GNA - The Chairman of the Akyempim Rural Bank in the Central Region, Col. Kingsley Kwame Nyame (rtd), has advised farmers, traders and other co-operatives in rural areas to take advantage of the numerous Micro Credit facilities by the rural banks to improve their financial and social standing. He however warned groups wishing to source such facilities to ensure prompt settlement of any financial assistance they might collect from the banks for more needy working groups to benefit from the schemes.

Addressing the management of the Akyempim Rural Bank and some beneficiary group leaders at Gomoa-Dawurampong, Col Nyame explained that funds being utilised for poverty reduction programmes were not gifts and had to be paid back on time.

He told the meeting that the Micro Credit was a revolving scheme to ensure the socio-economic well being of the people, especially the rural poor, if properly and efficiently managed and maintained. Col. Nyame advised workers of the bank to intensify their public education on the Micro-credit to enable the facilities to achieve their objective.

Mr Jacob Wellington Assan, Supervising Manager of the Bank, announced new initiatives to reduce poverty in its catchments area and appealed to loans defaulters to strive to honour their loans obligation in good time.

He said as part of the on-lending programme meant for poverty reduction, the bank had sourced 980 million cedis financial assistance from a number of donor agencies to back beneficiary groups.

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