Garissa County launches Ksh.150M revolving fund to offer interest-free loans

Garissa Governor Ali Korane has launched a Ksh.150 million revolving fund that will provide interest-free loans to the youth, women and persons living with disability.

Governor Korane said the fund is intended to expand access to finances, generate self employment and generally reduce poverty levels it the community.

“There is no doubt that there is immense unexploited potential among the youth, women and persons living with disability in our community and therefore the fund will provide opportunities to exploit their potential for the purpose of prosperity,” said the Governor.

He said the targeted group comprised over 70 percent of the county population but regrettably they continued to face enormous challenges in their pursuit for social economic empowerment.

The Governor said his administration had overcome challenges and constraints that initially hindered the youth from accessing business capital for lack of security.

He spoke of discriminative policies which have greatly reduced their chances to achieve their dreams by not offering them affordable interest-free credit.

Korane assured the beneficiaries that there was high prospects the fund could be doubled if beneficiaries agreed to settle the initial amount they borrowed.

The Governor said his administration will continue to invest and promote the milestone project that intends to fund 200 women owned business,150 youth owned business and 40 for persons living with disability every year.

He hinted at the possibility of coming up with County owned cooperative and saving bank.

The Governor urged the funds committee from every sub county to exercise fairness while choosing the beneficiaries.