The Federal Government has concluded arrangements to provide interest-free loan to no fewer than 20,000 small-scale traders in Kano. The State Commissioner for Commerce, Industry, Cooperatives and Tourism, Alh Rabi'u Bako, made the disclosure in an interview with newsmen in Kano on Monday.
He said that the loan was aimed at promoting small-scale industries which included: cooperative societies, artisans and petty traders. Bako said that the ministry would continue to sensitise the beneficiaries on the lofty objectives of the loan, adding that government was determined to promote self-reliance and sustainability.
``The amount to be given to an individual or organisation would be determined by its repayment capability,’’ he said. The commissioner urged interested traders to access the loan in order to benefit from what he described as ``lofty objectives’’ of the scheme. He said that the loan would be repaid in two years.
Bako said that the scheme was being handled by the Office of the Vice President, Prof Yemi Osinbajo, to promote micro-enterprises and empower petty traders. He said that the ministry also organised a workshop aimed at enlightening the public on the processes and procedures of accessing the loan.
Bako urged traders who had yet to register their businesses with the ministry to do so; as well as open an account with the micro finance banks.