Umuchinemere Micro Finance Bank disburses over ₦42.3 Million to 746 active poor

Umuchinemere Micro Finance Bank disburses over ₦42.3 Million to 746 active poor

Worried by the high level of poverty in the society and its devastating effect, Umuchinemere Pro-credit Finance Bank Enugu, has stepped up its avowed battle against the poverty scourge, disbursing within the first four months of this year, 2011, the sum of ₦42.3 million as a lifeline to a total of 746 poor people living within Enugu metropolis and the rural council areas of Ezeagu, Udi, Nkanu East and Nkanu West of Enugu State.

A statement from the bank, signed by its Head of Public/Media Relations unit, Sir Abuchi Anueyiagu, showed that the money was a micro credit funding meant to assist the beneficiaries grow their respective small or medium scale enterprises or to take care of their financial needs for the training of their children/wards, which is another form of investment and for some other things to enhance their wellbeing.

Umuchinemere microfinance bank was purposely established by the Catholic Diocese of Enugu as a means of economic evangelization and emancipation of the poor masses from their economic doldrums.

The statement quoted the chairman of the bank, Rev. Prof. Obiora Ike, a Roman Catholic Prelate, as saying that it is for economic emancipation of the poor in the society that the bank is providing various microfinance products and services that will benefit the active poor various areas in Enugu state, particularly the rural areas, and help them improve their living conditions.

The Umuchinemere microfinance bank chairman said the bank was aiming at achieving a remarkable figure in the war against poverty in the land by the end of the year, stressing that the Catholic Church is very much concerned about stamping out poverty among the people of God.

Prof. Ike outlined some of the facilities which the bank is offering the people to take them away from the shackles of poverty as micro credit funds, Small and Medium Scale Enterprise loan; Salary Advancement loan; Three-wheeler rickshaw taxi leasing; micro credit fund for groups; micro leasing; Education advancement loan; Seasons loan; Agriculture loan; Wedding loan; Small business loan; Workers loan; House Improvement loan.

He said the bank had plans to go into micro insurance scheme and was designing other products and services for the good of the people, particularly the poor rural dwellers. The bank boss was confident that the bank would succeed in creating wealth for the poor.

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