Managing Director, ECOWAS Bank Mr. Bashir Mammam-Ifo said it is ready to approve a financial loan of $100 million to Katsina State Chamber of Commerce to develop the agricultural sector adding that the state government should write in request of the loan on behalf of the state chamber of commerce.
According to a statement made available to our correspondent, Mr. Mamman-Ifo stated this at a discussion during the Katsina State Economic and Investment Summit stressing, “The bank will grant the loan to the Chamber if an application for the loan is forwarded to the bank.
“The state government should spearhead the demand for the loan for the State Chamber of Commerce so that the state can benefit from the loan.
“The state government should assist the Chamber to establish guarantee farms as one of the condition of getting the loan.
“The Katsina Government should also volunteer to serve as a guarantor to the Chamber to enable them secure the loan from the bank,” he said.
Mamman-Ifo, an indigene of the state, said that the management of the bank was ready to come to Katsina for discussions on the loan facility.
Responding, Gov. Aminu Masari, said that the state government would coordinate the meeting between the bank and the chamber, in order for the businessmen to access the loan facility.
“I will like to assure the ECOWAS Bank that our businessmen are ever willing to access the loan to boost the agricultural sector,” he said.
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Source:: Nigerian Pilot