PORT HARCOURT - Gov Chibuike Amaechi of Rivers has urged financial institutions, particularly banks, to grant long-term loans to budding entrepreneurs in the state.

Inaugurating a new branch of Access Bank in Port Harcourt on Saturday, Amaechi
said that the facility would enable the entrepreneurs to invest in viable business ventures.

Amaechi said that banks should consider long-term loans as better option than short-term loans.
“If you want our economy to grow, banks must begin to give long-term loans so that people can invest and make profits,” Amaechi said.

He said that the state government was pleased with the support Access Bank had given to the government, but appealed that the banks should assist the government in business advisory services.
The governor said that it would assist the government to create employment, more opportunities and also make government businesses thrive.

In his remarks, Mr. Herbert Wigwe, Group Deputy Managing Director, Access Bank,
said that the two new branches in Port Harcourt had brought the number of the bank’s branches in the town to nine.

He said that the bank would continue to support various initiatives of the state government geared toward improving the lot of the people and also offer employment to the indigenes of the state.