Heritage Bank Commences Disbursement Of YIEDP Fund

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Heritage Bank Plc has concluded arrangement for a pre-disbursement of loan to beneficiaries of Central Bank of Nigeria (CBN)’s Youth Innovative Entrepreneurship Development Programme (YIEDP).

The CBN-YIEDP fund is a N3billion fund with a three- year tenor at nine per cent  set aside by the CBN for serving NYSC members and ex-NYSC members who have concluded their service since 2010. An individual beneficiary can have access to N3 million.

According to the divisional head, Corporate Communications of Heritage Bank, Olusola Longe-Okenimkpe, the bank  a bid to get the scheme off ground, has organised a pre-disbursement training programme for select members of its staff across the country that would  implement the scheme. The workshop was held simultaneously in Lagos, Port Harcourt and Abuja recently.

“Also as part of the strategies, Heritage Bank is partnering with Background Check International to cross check the documents of the applicants, partnering with food processors to act as anchor for the beneficiaries as well as with the  Small and Medium  Enterprises Development Agency of Nigeria (SMEDAN),” she explained.


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