The Anambra State government has launched a N2.5 billion microfinance scheme, which is a collaborative effort between the state government and Access Bank Plc.

Performing the take-off ceremonies for the scheme in Awka recently, Governor Peter Obi said that the project was part of the resolve by his administration to empower the people towards self- reliance.

The governor said that such programmes are positive empowerment, different from those who understood empowerment, as the sharing of the resources of the state, would go a long way to contribute to the sustenance of the socio economic programmes of the government.

Obi said the scheme would provide a future for the people of the state and create a lot of opportunities for those genuinely interested in self- actualization. He frowned at those who talk about job creation without understanding the dynamics of the working of the economy. In his words, governments don't create jobs, but enabling environment for industries and trade to flourish. The provision of credit to those who would make good use of it, according to him, is a form of enabling environment.

In his address, the Commissioner for Finance who is also the Chairman of the State Committee on Microfinance, Mr. Eze Echesi said that Obi's administration has transformed Anambra State through myriad of projects, including the microfinance project being launched. He said that though pockets of micro credit scheme existed in the state, but that the one being launched was the flagship, intended to empower the active poor in the society to set up or strengthen existing micro and small enterprises.

For effective operation of the scheme, he said that workshops would be organised in all the local government areas of the state. He promised that his committee, which comprises himself, representatives of the Access Bank Plc, Central Bank, Microfinance bank operatives, among others, would ensure the success of the scheme.

The consultant said that the scheme was for the active poor and was only open to Anambra indigenes both leaving in or outside the state. He said the maximum amount to be loaned was N500, 000 and that security would be in the form of proven good character of the borrower and not tangible assets.

The consultant said that Access Bank would release the N2.5 billion to accredited banks within one month, which would now release it to end-users within two months of completing application formalities.