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UMUCHINEMERE MFB DISBURSES N42.3M IN Q1

By NBF News
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By Amaka  Abayomi
Umuchinemere Pro-credit Micro Finance Bank (UPMFB), Enugu, has stepped up its support for poverty eradication by disbursing N42.3m to 746 'active poor' in Enugu metropolis and the rural council areas of Ezeagu, Udi, Nkanu East and Nkanu West of Enugu state within the 4 months of 2011.

According to a statement signed by UPMFB's Head of Public/Media Relations unit, Sir Abuchi Anueyiagu, worried by the devastating effect of the high level of poverty in the society, the money is to assist beneficiaries grow their businesses to enable them take care of their financial needs.

The chairman of the bank, Rev. Prof. Obiora Ike, said as part of the economic emancipation of the poor in the society, UPMFB is providing various microfi-nance products and services that will benefit the active poor in various areas in Enugu State, particularly the rural areas, and help them improve their living conditions.

'UPMFB is aiming at achieving a remarkable figure in the war against poverty in the land by the end of the year as the Catholic Church is very much concerned about stamping out poverty among the people of God.'

Prof Ike outlined some of the facilities which the bank is offering the people to take them away from the shackles of poverty as micro credit funds, small and medium scale enterprise loan; salary advancement loan; three-wheeler rickshaw taxi leasing; micro credit fund for groups; micro leasing; education advancement loan; seasons loan; agriculture loan; wedding loan; small business loan; workers loan; house Improvement loan.

Confident that the bank would succeed in creating wealth for the poor, the chairman said the bank plans to go into micro insurance scheme and is designing other products and services for the good of the people, particularly the poor rural dwellers.