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Govt mulls boosting JK funds for small scale entrepreneurs
2008-02-06 09:11:48
By Angel Navuri, Dodoma
The government has announced its intention to increase the amount of funds in the Kikwete fund to help fight poverty in the country more effectively.
Prime Minister Edward Lowassa told the National Assembly yesterday that more than 34,000 people received loans out of 21bn/- given to 21 regions in the last financial year.
Lowassa added that the government was looking into the possibility of increasing the amount in the 2008/2009 financial year.
``So far compiled reports indicate some achievement such that under the initiative 32bn/- has been dished out in the form of loans. We need to reach more people by increasing the budget for the purpose,`` said Lowassa.
Earlier, Labour, Employment and Youth Development deputy minister Jeremiah Sumari unveiled the statistics in parliament when responding to a question from James Musalika (Nyang`hwale, CCM) who demanded clarification on the number of people who had so far received loans in his constituency.
Sumari clarified that in Nyang`hwale constituency two Saccoss had been given 166,142,000/- and 126 individuals applied for loans amounting to 280,280,290m/-. However, they had not been given the loans.
He said the government would take the matter seriously to make sure that they got the loans in the second phase.
The deputy minister said the government had decided to offer the loans to all including those in rural areas.
Giving details, Sumari named financial institutions that the government had signed a memorandum of understanding with to give loans to the people.
These include Akiba Commercial Bank, Postal Bank, Azania Bank, CRDB, Dunduliza Cooperative Union, Kagera Farmers Cooperative Union and Kilimanjaro Cooperative Bank.
Others are Mbinga Community Bank, Mufindi Community Bank, Mwanga Community Bank, Presidential Trust Fund (PTF), Pride (T), SCCULT (1992) Ltd and Uchumi Commercial Bank.
He said that the second phase of giving out loans was launched on the 31st December, 2007 at Msowelo in Kilosa district of which Akiba Commercial Bank started giving the loans to the people who are running small business through MMMK Saccos Kilosa, Msowelo Saccos and Faraja Women Saccos in Gairo, Morogoro Region.
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