Orji Uzor Kalu Foundation Empowerment Scheme, initiated by former Abia State Governor, Chief Orji Kalu, for the empowerment of 17 local government areas (LGAs) of the state, has been inaugurated.
The scheme involve giving of a revolving loan designed to support petty businesses and fleet of Sienna buses for transportation.
Chief John Oyegun, the National Chairman of the All Progressives Congress (APC), performed the inauguration on Wednesday at Igbere, Bende LGA, the country home of Kalu.
Oyegun lauded the initiative, describing it as “a unique concept and a unique idea.”
He said the loans and vehicles would improve the economic status of the people as well as the state.
He described Kalu as a prominent and invaluable member of the party.
Earlier, Kalu said that the scheme was part of a personal initiative to empower and alleviate the sufferings of people of the state.
He said the loan, which ranged from N20,000 to N50,000, would be interest-free until 2020, adding that from then it would attract a 10 per cent interest.
He said the repayment period was six months while the scheme was designed to meet World Bank standard and ensure that beneficiaries repay to enable others benefit.
Seven Sienna buses were handed out to beneficiaries from five local governments of Abia North, Kalu’s senatorial districts, as well as Aba North and South council areas of the state.
Three of the beneficiaries, Mrs Precillia Dike, Mr Onyekwere Alaezi and Mr John Kalu, expressed their gratitude to the foundation for its kind gesture.
They gave assurance that they would deploy the vehicles to the purpose they were intended and also use them to further empower other people in the area.