Nsoatre (Brong Ahafo Region), 13 Oct. The Sunyani district assembly has appointed the Nsoatreman Rural Bank to manage an 80 million-cedi fund to be invested in its poverty reduction programmes. The fund is to make micro working capital available to the vulnerable and disadvantaged groups in small-scale production enterprises in agriculture and industry. The district chief executive, Mr. Kwadwo Nyamekye-Marfo, who announced this at the bank's 12th annual general meeting at Nsoatre yesterday, said the fund is 20 per cent of the assembly's common fund for 1997 which the government has directed should be used for such programmes. He said the bank was appointed to manage the fund because of its high performance in loan recovery which stands at 90 per cent. A five-member committee headed by the presiding member, Mr. Kwame Agyenim-Boateng, has been formed to liaise with the bank for the successful management of the fund. He stated that an interest of 75 per cent of the current bank rate would be charged on loans.
Nsoatre (Brong Ahafo Region), 13 Oct. The Sunyani district assembly has appointed the Nsoatreman Rural Bank to manage an 80 million-cedi fund to be invested in its poverty reduction programmes. The fund is to make micro working capital available to the vulnerable and disadvantaged groups in small-scale production enterprises in agriculture and industry. The district chief executive, Mr. Kwadwo Nyamekye-Marfo, who announced this at the bank's 12th annual general meeting at Nsoatre yesterday, said the fund is 20 per cent of the assembly's common fund for 1997 which the government has directed should be used for such programmes. He said the bank was appointed to manage the fund because of its high performance in loan recovery which stands at 90 per cent. A five-member committee headed by the presiding member, Mr. Kwame Agyenim-Boateng, has been formed to liaise with the bank for the successful management of the fund. He stated that an interest of 75 per cent of the current bank rate would be charged on loans.
