…as Otu flags off N500m loan disbursement
By Onwa Ekor
In a bid to fulfill the People First mandate of his administration, Cross River governor, Prince Bassey Otu, will Friday, March 20, flag off the disbursement of N500 Million in loans, to the state’s business community.
The event, organised by the Microfinance and Enterprise Development Agency (MEDA), is slated to hold at Bishop Moynagh Avenue, State Housing, Calabar, by 10AM.
A statement by the Director General, Cross River MEDA, Great Ogban, noted that the financial intervention is designed to stimulate the local economy by providing indigenous Micro, Small and Medium Enterprises (SMEs) with much-needed capital.
He maintained that this would scale operations, increase productivity, and create sustainable employment.
Ogban also added that the disbursement follows a rigorous screening process led by MEDA to ensure that genuine entrepreneurs across the 18 local government areas of the state receive the support required to thrive in a competitive market.
“Our goal is to move nano-enterprises to micro, and small businesses to medium-scale giants.
“This N500 Million fund is not just a loan, it is an investment in the ingenuity of our people and a testament to Governor Otu’s commitment to making Cross River an enterprise-driven state,” Ogban stated.
This initiative, the MEDA DG further informed, remains a prove that the present administration in the state led by Otu, remains committed to fostering a conducive business environment through infrastructure development, policy reforms, and direct financial interventions like the MEDA loan scheme.
