Asuokaw (E/R), Jan. 27, GNA- Bawjiase Area Rural Bank (BARB), last year released credit facilities totaling eight billion cedis to sixty-three credit and savings associations operating within the bank’s catchments area, to promote the businesses of members. The associations, formed under the auspices of Danish International Development Agency-supported Micro Credit Project (MCP), have a total membership of 1,634. Mr. Emmanuel K. Osei, Board Chairman of the Bank, said these on Friday, at Asuokaw, after he supervised officials of the Bank to disburse 149,900,000 Cedis to members of the Asuokaw Nkosour Credit and Savings Association. Mr Osei said the Micro Credit Project was aimed at assisting members of the 63 associations to become financially self-supporting to enable them meet their social obligations including giving their children good education. Mr. Augustus Yankey, Supervising Manager of the Bank, commended members of Asuokaw Nkosour Credit and Savings Association for repaying loans granted them under the Micro Credit Project in the past three years. Nana John Wilson, Project Officer of the Bank, advised the members to sustain their efforts at repaying loans on schedule, adding that management and the Board of Directors of the Bank were motivated by the gesture to increase the yearly loan allocation of the group from 13,800,000 cedis to nearly 150,000,000 cedis this year. Nana Okorewaa I, Ankobeahema of Asamankese, praised the Bank for the assistance and said the financial assistance has assisted members of the association to improve upon their economic activities, which has reflected in their children’s welfare. She said the association would operate corn-milling business to sustain its internally generated financial base. Nana Okorewaa, who is also Chairman of the Asuokaw Nkosour Credit and Savings Association, said apart from petty trading, members of the association engaged in cocoa and food crops production and palm oil and palm kennel oil extraction.
Source: GhanaWeb
