One of the reasons why rural dwellers remain poor is lack of access to agro micro-credit facilities to undertake meaningful ventures.
To mitigate this, the federal government and the International Fund for Agricultural Development-a specialized agency of the United Nations dedicated to eradicating rural poverty in developing countries, implemented Rural Finance Institution Building Programme(RUFIN).
The total cost of the project is US$40 million with IFAD contributing the sum of US$27.58 million.
The programme aimed to develop and strengthen Micro Finance Banks (MFBs), other member-based Micro Finance Institutions (MFls), to enhance the access of the rural populace to financial services in order to expand and improve agricultural productivity and Micro-Small Rural Enterprises.
For more on this story visit the following link: How housewives ended poverty with agro credit
Source: Daily Trust