Atiku centre, bank to disburse N54m GIZ-fund to Adamawa IDPs

The American University of Nigeria (AUN) and Yola-based Standard Micro Finance Bank has signed a Memorandum of Understanding to disburse cash and agricultural inputs to vulnerable returnee farmers in Adamawa communities.

The communities are Maiha as well as Mubi North and South Local Government Areas of Adamawa State, a statement said.

German International Aid Agency GIZ-R is funding the intervention through AUN’s Atiku Center to promote and improve the resilience of farmers in some identified communities in Adamawa state affected by the Boko Haram insurgency.

The intervention which started in August of 2018 will run up to March 2020 in the three LGAs.

The bank will disburse N54 million for nine hundred farmers who will be able to access the funds through accounts they will open with SMB.

The intervention which started in August of 2018 will run up to March 2020 in the three LGAs.

A core project objective is to strengthen suppliers’ capacity in stocking appropriate agro inputs that will be readily available for the selected farmers to access and procure using the grants being provided by the project through a banking system.

Mr. Muyiwa Olowe of GIZ-R explained that the idea of having a bank manage the funds is to avoid giving money directly to the farmers so they do not spend it given their situations. It is also an initiative that enjoys donors support.

AUN President Dr. Dawn Dekle, one of the signatories, said the project will help build the agricultural industry in North-East Nigeria, especially Adamawa State as farmers will access loans, get training, be accountable and in turn teach their children to do the same.

The CEO of Standard Microfinance Bank, Mr. V. M Francis said both AUN and the bank have worked on similar projects in the past to empower IDPs, and hopes that this will be a long-term relationship between AUN, the bank, and the farmers.

Source: DAILYTRUST