Abia State Government has received the N1 billion Commercial Agricultural Credit Scheme Loan from the Central Bank of Nigeria (CBN).
Commissioner for Agriculture, Uzo Azubuike, and his Finance counterpart, Mr. Obinna Oriaku, confirmed receipt of the loan by the state.
The loan is an intervention in local agriculture to ensure farmers in the state engage in all season farming.
The loan is a single digit loan of 7 per cent interest with moratorium period of six months.
Governor Okezie Ikpeazu has set up a committee saddled with the responsibility of mapping out modalities for the disbursement of the fund to deserving beneficiaries, to ensure it is not used for political patronage.
The committee will be chaired by Azubuike.
