Governor Ibrahim Dankwambo of Gombe State has flagged-off the first phase of disbursement of N750 million Trade Intervention Fund to 2,065 traders.
Speaking at the forum in Gombe, Dankwambo said the loan was meant to support traders in their businesses while uplifting the standard of living of the people.
According to him, the loan is interest-free but had negligible administrative charges to be paid to JAIZE Bank.
“The state government is deliberately partnering with JAIZE Bank to administer the Trade Intervention Fund because of its banking ethics and readiness to contribute positively toward the development of Gombe State,’’ he said.
Out of the amount, he said N500 million would be disbursed to the Main Market, Old Market and Village Traders Market Association which constituted the three leading traders’ groups.
Dankwambo said the second phase of the disbursement would take place in 12 months when the beneficiaries of the first batch had repaid their loans.
He appealed to the beneficiaries to judiciously utilise the loan and ensure timely repayment so that others could benefit from the gesture.
In his remarks, the Chairman of Gombe Traders Association, Alhaji Dayyabu Hashim, commended the government’s efforts aimed at boosting the economy of the state.
Hashim assured government that the traders would ensure they fulfilled all the conditions attached to the loans.
He called on the traders to support the state government in order to access more dividends of democracy.