The Global Affairs Canada, has described the establishment of the Bauchi State Agency for Sustainable Microfinance by the state government as key towards ensuring effective implementation of microfinancing initiatives for poverty reduction in the state.
An official of the organization, Mrs Pamela Branch made the remark when she led other officials for a visit to the Management of the Agency in a bid to lubricate the mutual partnership between the two agencies and appreciated the foresight of the state government for establishing the microfinance agency, which she observed will go along way in assisting citizens to access microfinancing intervention as to improve their business activities and livelihood.
Pamela applauded the agency for partnering with Oxfam Nigeria in the implementation of Village Savings and Loans Scheme (VSLA) in the 20 LGAs of Bauchi state and welcomed the Microfinance Institution Building Program for Poverty Reduction (MIFIN) initiated by the state government.
"We are happy to interact with you today, we have seen the commitment of the Bauchi State in the area of poverty alleviation programmes through this Agency, Village Savings and Loans Scheme is key to tackling poverty, as it inculcate the culture of Savings among its members. We are here to tell you that we are ready to support Bauchi State Government to implement its various poverty alleviation programmes in recognition of its efforts to provide citizens with opportunities to become self-reliant."
The Global Affairs Canada's top official urged the state government not to relent in providing windows of opportunities to people especially rural dwellers to access financial intervention for total eradication of poverty and hunger in the society.
Responding, the Director General of the Agency, Alhaji Muhammad Nura Dan’madami told the visitors that his agency was established in the year 2012 by the state government to strengthen the operation of microfinance institutions in order to provide efficient services to citizens at the grassroots by assisting them to access financial interventions from relevant institutions.
Nura Dan’madami said the agency has since embarked on an advocacy visit to various stakeholders to seek their support in commencing the implementation of the Microfinance Institution Building Program for Poverty Reduction (MIFIN) across the 20 LGAs of the state.
He explained that, the MIFIN programme would sit on the Village Savings and Loans Scheme implemented by Oxfam Nigeria in the 6 local government areas of the state and replicate it in the 20 LGAs where OXFAM has not covered. He further congratulated Oxfam for the successful implementation of the programme in the benefiting communities.
"We are honoured to receive this very important visitors to our agency whom we are always looking for partnership, collaboration and mutual relationship. As you may be aware, we have signed an MoU with Oxfam for technical support and transfer of knowledge to the staff of the Agency who would serve as master trainers of the VSLA for the implementation of our Microfinance Institution Building Program for Poverty Reduction (MIFIN).
"The MIFIN programme is designed to enhance access of MSMEs with finance and it focuses on strengthening microfinace institutions including small informal groups like the VSLA by providing them support to access capital, skills and linkages under a favorable policy envrlironment and MIFIN program is targeting to reach out to at least 100 groups of 25 persons in each of 323 wards of Bauchi State in an effort to reduce poverty thereby improving the economic well-being of the citizens, especially those from the rural areas."
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