The Umuchinemere Pro-credit Micro Finance Bank disbursed about N565.6 million to 2,503 active poor people in the various sectors of the economy during the first half of the year.
According to the bank, the figure was an improvement on the N451.2 million disbursed same period last year.
The objective of the fund was to assist the beneficiaries engaged in meaningful enterprises to improve their quality of lives. Among them were the 209 small scale farmers that were given the sum of N50 million.
Of the beneficiaries, a total of 1,459 were males and they had the sum of N265.3 million, while the balance of N300.6 million went to females, as against the N257.5 million advanced to 1,305 males in 2018.
There was a significant general improvement in the performance of the bank so far this year in disbursements, in terms of amount or volume and number of beneficiaries from the preceding year, as the total figure disbursed increased by over N114.4 million from N451.2 million to N565.6 million while the number of beneficiaries rose by 389, from 2,114 in 2018 to 2,503 in 2019 respectively.
According to its Head of Credit, Mr. Charles Udeani, UPMFB was maintaining a steady stride in progress and in collaborating with the government to fight poverty and improve the well-being of the active poor people in the society.
The bank is one of the microfinance institutions in the country that are helping the government to achieve its financial inclusion policy, enhance the quality of life and well-being of the active poor and generally improve the economy of the country.
However, worried by the unyielding condition of widespread hunger in the land, UPMFB, established by the Roman Catholic diocese of Enugu to eradicate poverty through economic evangelisation and economic emancipation of the poor, has thrown its weight behind government’s agriculture revolution policy and programme for self sufficiency in food production in the country.