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UA8.97m Grant For EPMDP

Aug 13, 2009, 5:55 AM | Article By: Abdoulie Nyockeh

Mrs. Fatou Kinteh, the Project Coordinator of the Entrepreneurship Promotion and Micro-finance Development Project (EPMDP) has disclosed that the government of the Gambia had received a grant of UA 8.97 million (D337, 272.00) from the funding of the Entrepreneurship Promotion and Micro-finance Development project, under the Social Development Fund (SDF).

She made this revelation on Wednesday 12th August 2009, while delivering her speech at the official handing over ceremony of six motor bikes to Indigenous Business Advisory Service (IBAS), through the Ministry of Trade, Industry and Employment.

Mrs. Kinteh said the goal of the project is to contribute to poverty reduction in a sustainable way, with the objective of supporting diversification of rural income- generation sources, provide increased access to financial institution and building capacities of Non- Bank Financial Institutions in order to avail increase access to the rural population and Micro-Small and Medium Entrepreneurs to micro-finance services in a sustainable way.

The project, she noted, will support 24,000 rural women, men and youth, through training in entrepreneurship and livelihood skills development.

She stated that it would further enable access to financial services for 116,000 micro-finance clients and create 14, 345 new micro-finance loans. He said it would also mobilise saving of D108 million.

"The project will support the training of rural women, men and youth in entrepreneurship and skills training to become economically empowered and contribute to their household poverty reduction," she added.

The Project Coordinator further revealed that the project would be implemented at macro and micro-levels and will support policy development and operationalisation, institutional strengthening, entrepreneurship and skills development, technical skills development, training and promotion of small business associations.

She also stated that the handing over of the six motor bikes will enhance the work of the field staff of IBAS.

Also, speaking at the handing over ceremony, Mr. Yusupha Kah, the Permanent Secretary at the Ministry of Trade, Industry and Employment, commended the Social Development Fund for the gesture.

"There is no doubt that the relationship will continue to grow from strength to strength", he said, while urging the beneficiaries to put the motor bikes to good use.

Mr. Manga Sanyang, the General Manager of IBAS expressed delight and appreciation to the Social Development Fund and the Ministry of Trade, Industry and Employment.

He assured them that the donated materials would be put to good use.