Bauchi pledges better deal for vulnerable groups through MIFIN

By Bashir Hassan 

Bauchi State Agency for Sustainable Microfinance has reiterated its commitment to accord priority to vulnerable target groups under the Agency's Microfinance Institutions Building for Poverty Reduction (MIFIN) Programme. 

The Director General of the Agency, Muhammad Nura Danmadami said that Governor Bala Mohammed has since approved the implementation of the Microcredit revolving scheme to enable every poor and vulnerable citizen access to credit to start up a business. 

He said that the Agency has successfully empowered several community associations and cooperative societies with small revolving loans for petty trading and other enterprises. 

Danmadami disclosed this in Bauchi yesterday, after a in Abuja where he attended a National Summit on Gender and Social Inclusion (GESI), organised by Policy Innovation Centre (PIC), NESG and CARE International. 

Danmadami, who was part of the panel during the summit, said that the bulk of beneficiaries of the Agency's MIFIN program are women which include People With Disabilities (PWDs) and other vulnerable groups across the 20 Local Government Areas of the State. 

The DG said that so far the Agency has given out loans to empower the poor and vulnerable to the tune of over N10 Million as revolving loan. 

He said that GESI mainstreaming in the MIFIN programme is the major criteria for accessing loans from the Agency by the microfinance institutions for onward disbursement to beneficiaries. 

The Danmadami of Katagum further informed participants at the National Summit that Bauchi State has already made significant progress in GESI as Governor Bala Mohammed continues to provide support to women and the vulnerable as part of a wider economic development and financial inclusion strategy of his administration. 

He disclosed that so far, thousands of women are being empowered from the revolving loan and that outcome of the MIFIN program can be seen in the repayment ability of original borrowers which is enabling other vulnerable women to access the loans too.