UNDP, ADF assist Mfansteman Community Bank

The Mfantseman Community Bank at Biriwa in the Central Region has received 350,000 dollars from United Nations Development Programme (UNDP) and the African Development Foundation (ADF) to support its poverty reduction programme.

The UNDP under its micro start package provided 150,000 dollars whilst ADF gave 200,000 dollars, Mr N.E. Afresi-Entsie, Vice Chairman of the board of directors of the bank announced at a meeting with customers at Mankessim.

The meeting was to educate the customers on the modalities of enjoying the packages.

Mr Afresi-Entsie said so far over 500 million cedis has been disbursed under the micro start while 400 million cedis has been given out under the ADF package to 39 groups made of 569 individuals.

Mr Kojo Ellis, General Manager of the bank urged leaders of the groups to ensure that the loans are used for the purpose for which they were granted.

"Ensure that the loans are used to generate income and not on funerals or weddings and other activities which do not bring income," he said and urged them to pay back the loans promptly so that the scheme could be expanded to benefit more people.

The meeting commended the Mankessim branch manager, Mr Peter Akanyare for his concern for the welfare of the customers.