See what a Microfinance Bank is planning for lucky farmers in 2021

See what a Microfinance Bank is planning for lucky farmers in 2021

 

LAPO Microfinance Bank (MFB) Ltd., has pledged N10 billion to support farming and agriculture projects in 2021.

Mr Oluremi Akande, the Head, Corporate Communications and Branding of the bank, disclosed this in an interview with the News Agency of Nigeria on Friday in Abuja.

The MFB was recently awarded as the Best Supporting Bank in the 2020 Agricultural Credit Guarantee Scheme Fund (ACGSF).

READ ALSO: FG to Disburse N600bn Loan Package to smallholder farmers to develop 6 value chains 

Speaking on the award, Akande said that the award was in recognition of LAPO’s contribution to promoting Nigeria’s agriculture sector and the bank would increase its financial support to farmers from N3billion in 2020 to N10 billion this year.

He further explained that, “We have been doing the ACGSF since 2012, and the award is in recognition of our contribution towards promoting the agriculture sector in Nigeria, and the impact we have made also brings to fore that beyond savings; LAPO is also bridging the social gap and reducing huger.

“Hunger and food deprivation are indices of poverty, and when we have food security poverty will be defeated”.

READ ALSO: See Why Benue farmers opposed blockade of food to South

“We have disbursed over N27 billion as at today. We disbursed N3billion in 2020 but we intend to quadruple that this year by disbursing N10billion to farmers and other agro-allied processors.’’ He added.

 

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