World Bank, Yobe disburse $2.5m revolving fund to 101 communities | The Guardian Nigeria News

A World Bank-financed project, Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) and Yobe Government have disbursed $2.525m as revolving fund to 101 communities in the state to boost agricultural development.

Gov. Mai Mala Buni of Yobe State made this known at the presentation of cheques to the beneficiaries on Saturday in Damaturu.

Buni said that the fund was aimed at driving economic growth, improving livelihoods, and promoting sustainable development among communities and farmer groups.

“This occasion is another milestone achieved by the state government by supporting 101 communities with a Community Revolving Fund (CRF) loan of two million, five hundred and twenty-five thousand US dollars ($2,525,000),” he said.

The governor said that 4,825 out of the total 7,340 slots had been allocated to youths to ensure their maximum engagement and benefit from the programme.

He urged the beneficiaries to take full ownership of the programme and repay the loan promptly to ensure its sustainability.

ACReSAL National Coordinator, Mr Abdul Umar, commended Yobe Government for providing an enabling environment for the project to thrive in the state.

Umar said that the people of Yobe had not only accepted the project, but also had a complete understanding and had keyed into the project.

He also identified ACReSAL staff strength, dedication, and team spirit as another factor for the success of the project in the state.

Earlier, ACReSAL Project Coordinator in the state, Alhaji Shehu Mohammed, said that the revolving fund was not a grant, but an investment loan, aimed at revitalising agricultural practices.

Mohammed said that Yobe was among eight pilot states selected by the World Bank, for the implementation of the Community Revolving Fund scheme.

Malam Ba-Isa Karasuwa, speaking on behalf of the beneficiaries, thanked Gov. Buni for revamping the agricultural sector in the state and assured that they would utilise the fund judiciously.

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