ASABA - The Delta Coordinator of NAPEP, Mr. Austin Igbine, has said that N550 million has been set aside for the execution of the Village Economic Development
Solution (VEDS) scheme in the state.
Igbine told newsmen in Asaba that the agency was collaborating with the state government and Intercontinental Bank Plc.
He said that Delta government had made available N200 million to assist the scheme.
The coordinator said Intercontinental Bank, which has been chosen to work with the agency, was expected to contribute its own quota, which is a minimum of N200 million.
Igbine explained that the money would be made available to villages and communities that form cooperative society and come up with valuable economic projects.
He said that the fund would go round the three senatorial districts in the state and that no single senatorial district or community would be excluded.
The coordinator said that “proposals had been forwarded by the various communities.
“The communities or cooperative societies that meet the standard will be given money ranging from N1 million to N10 million to set up basic economic anchor projects.”
Igbine said that the aim of the scheme was to create employment and wealth for members of the society.
He said that the scheme would also help to raise income, output and employment levels in the rural areas with the aim to eliminate extreme poverty.
“The scheme will also ensure that people do not leave their villages to the cities thereby adding to the population that has little or no job to do.
“We want to discourage the rural urban migration that causes different economic and social hazards in our different cities,” the coordinator said.
Igbine said that the federal and Delta governments would ensure that the scheme was well executed and that the impact of the scheme was felt in all nooks and crannies
of Delta.
He described the establishment of NAPEP as a bold attempt to curb poverty in the country, adding that the agency had re-focused its programmes.
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