By BENEDICT TEMBO and PAUL SIMWINGA
GOVERNMENT has through Indo-Zambia Bank (IZB) commenced the disbursement of loans under the Constituency Development Fund (CDF) in Mwandi District of Western Province.
IZB Senior Relationship manager for retail and Small and Medium Enterprises Joseph Nyendwa has since urged beneficiaries of CDF loans to use the funds for the intended purpose.
Mr. Nyendwa says CDF loans beneficiaries now have the responsibility of repaying the loans, enhance their businesses and develop the community.
He was speaking shortly after conducting a financial literacy training for loan empowerment beneficiaries in Mwandi District last Wednesday.
And CDF loan empowerment beneficiaries have applauded IZB for conducting the financial literacy training.
Pigmo Fashion and General Dealers Executive Director Mosturd Ngandu says the training will enable him to put the money to good use.
Mr Ngandu also thanked government for actualising the disbursement of CDF loans in the district.
He says citizens will now be able to contribute to the economic growth of the country.
Meanwhile, Mwandi District Council chairperson Mike Lubasi says the new dawn administration will continue improving lives of its citizens through various empowerment programmes such as CDF.
Mr. Lubasi says government will continue working with its partners like IZB in the provision of financial literacy to all the beneficiaries to enable them use the money for the intended purpose.
Mr Lubasi says obtaining finances to start a business especially in areas far from the line of rail is a challenging task regardless of whether one has an entrepreneur mind or not, thanks to the CDF loan facility component which has no restriction on where an individual is found.
He is happy to witness the disbursement of the funds to the beneficiaries under the loan facility.
“We are so happy because this is another yet exciting stage. Our people are very excited and they are celebrating for the first time they are receiving such a loan from the government with little interest. Thank you to Indo-Zambia Bank because you have made this easier. Of course it took too long but its good that finally today it has happened. Thank you so much,” Mr Lubasi says
During the inaugural Western Province expo last September, IZB Managing Director Kowdichar Sashidhar
launched the Indo CDF Multiplier to all constituencies in the province, which will have the benefit of increasing the capacity of local Micro, Small and Medium-sized Enterprises to execute and deliver on development projects, as well as multiplying the benefits of the CDF in the local community.
The bank is also administering the CDF Revolving Loan Facilities.
