The Delta State Government has reaffirmed that the N1 billion soft loan approved for Micro, Small, and Medium Enterprises (MSMEs) will soon be disbursed.
Executive Assistant to the Governor on Public Enlightenment, Olisa Ifeajika, addressed journalists in Asaba, explaining that procedural formalities had caused the delay.
He recalled that the Commissioner for Economic Planning, Sonny Ekedayen, had announced on 14 February that the state had set aside the funds at a single-digit interest rate to support business growth.
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Mr Ifeajika attributed the delay to the need for thorough documentation, including the signing of a Memorandum of Understanding between the state government and the Bank of Industry, which will manage the funds.
He assured business owners that the process was nearing completion and funds would be accessible soon.
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