President Goodluck Jonathan To Launch N220b for Small Business People Next Week

President Goodluck Jonathan

In his resolve to develop and promote entrepreneurship amongst the less privileged, President Goodluck Jonathan will launch the N220b Micro, Small and Medium Enterprises (MSMEs) Development Fund in Abuja on Tuesday, August 19, 2014. 
According to the Development Finance Department of the Central Bank of Nigeria (CBN), President Jonathan will also present prizes to participants who displayed excellence in the promotion of entrepreneurship in 2013.
The CBN will disburse the N220b at 9% interest rate to Microfinance Banks (MFBs), who will in turn do the same to beneficiaries. CBN also announced that 60% of the fund will be given to women, with an interest rebate component put in place to ensure they don’t pay more than 9% interest on their loans.
Expected to partake in the conference are: MSMEs, Banks, Microfinance Institutions (MFIs), Microfinance Banks (MFBs), deposit money banks, state governors, federal ministers, heads of government agencies and departments, International Development Agencies and captains of industries.
President Jonathan's agenda to move Nigeria forward includes reducing poverty and ensuring inclusive economic growth and development through entrepreneurship development.