At least 500 micro, small and medium-scale enterprises (MSMEs) in Cross River State have been advanced N400 million as single-digit loans, to engage in agro-based and other businesses.
The Cross River government through its Microfinance and Enterprise Development Agency (MEDA) in collaboration with the Bank of Agriculture set aside the fund to aid the MSMEs, as a way of boosting the economic empowerment of the state’s citizens.
Speaking at the cheques presentation to beneficiaries of the scheme in Calabar, Governor Liyel Imoke underscored the importance of MSMEs in the economic development of any nation, stating that it provides the largest means of livelihood for self-employment in the state.
BEN EGUZOZIE
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