The Member of Parliament for Effiduase Asokore constituency in the Ashanti region, Dr. Ayew Afriyie, in partnership with Citizen Cooperative credit Union, has given loans to over 100 women in his constituency on Saturday, August 17, 2019.
The loans are expected to help the women undertake new businesses or reinvest in their existing businesses among others.
The loans scheme forms part of an initiative by the MP to help his constituents expand and establish their businesses through very flexible loan terms.
During the presentation, representatives of the Citizen Cooperative Credit Union explained 12% interest rat on the loans to the beneficiaries and how they can pay appropriately without stress.
However, a speech delivered on behalf of Dr Ayew stated that the Mp has absorbed 10% of the interest rate on the loans while beneficiaries pay 2%.
The news was met with loud jubilation and resounding applause from the people.
Beneficiaries were thankful to the MP for the intervention and promised to pay back accordingly.
Dr. Ayew is hopeful that the number of beneficiaries will soon increase depending on how quickly the loans are paid back.
Source: mypurefmonline.com/ 957FM /Kumasi