AbdulRazaq Flags off Distribution Of N350m ACReSAL Interest–free Loans for Kwarans

Kwara State governor, AbdulRahman AbdulRazaq, yesterday flagged off the distribution of $250,000 (N350 million) in interest-free loans to 1,000 Kwarans.

The scheme aimed to empower small business clusters across Kwara communities, strengthen grassroots economies, and scale up sustainable development.

Beneficiaries were drawn from across community interest groups, each of which has received a sum of $25,000.

Powered by the World Bank under the Community Revolving Fund (CRF) initiative, the project is being implemented under the Kwara State Agro-Climate Resilience in Semi-Arid Landscapes (Kwara ACReSaL).

The governor said the administration is partnering with the World Bank under the ACReSAL project to positively touch lives and improve the local economy.

He urged the beneficiaries to use the funds judiciously to achieve their objectives and to repay them promptly so that other persons can benefit.

“This World Bank-supported initiative has been designed to provide our women, youth, farmers, and cooperatives with access to resources that will enable them to create wealth, generate employment, and uplift households. Hence, it is a practical step towards reducing poverty,” the Governor said in Ilorin during the flag-off ceremony.

“I congratulate all the pioneer beneficiaries. You are leading the way with these dedicated funds, which you would be required to refund to enable it to reach more lives,” the governor said.

The commissioner for Environment and chairman of the Steering Committee for ACReSaL, Hon. Nafisat Buge, said the success of the programme depends on how well the beneficiaries use and repay the funds, calling on them to repay promptly for others to benefit.

“Today is not just about the distribution of funds; it is about planting another seed of hope, empowerment, and sustainable growth in our community,” she said.

Buge, however, said that the Kwara ACReSAL is not just giving out this credit facility to people; it has recently provided potable water to some rural communities in the state to improve their living conditions.

The state project coordinator for ACReSAL, Alh Shamsideen Aregbe, said the Community Revolving Fund initiative confirms the governor’s dedication to inclusive development and shared prosperity.

The Emir of Shonga, Dr Haliru Yahaya, commended the governor for his passion for community development, saying that his community is a chief beneficiary of the ACReSAL project and other infrastructural development programmes.