LAPO Microfinance Bank Limited
said it has budgeted N92.7 billion for disbursement to Small Medium
Enterprises, SMEs, in this fiscal year.
The bank’s Managing Director, Mr. Godwin Ehigiamusoe, disclosed this while chatting with journalists on the activities of the bank this year.
The bank’s Managing Director, Mr. Godwin Ehigiamusoe, disclosed this while chatting with journalists on the activities of the bank this year.
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He said the amount voted
this year is higher than the N62.2 billion it disbursed in 2013 to customers of
the bank, who sought the interventionist approach of the bank to deliver
affordable housing to indigent Nigerians.
He stated that LAPO’s interest in embracing the affordable housing microfinance (HMF) concept was borne out of its social and environmental mandate of lifting its customers out of poverty and improving lives.
He stated that LAPO’s interest in embracing the affordable housing microfinance (HMF) concept was borne out of its social and environmental mandate of lifting its customers out of poverty and improving lives.
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Ehigiamusoe said that the specific
objectives of affordable housing is to meet the need of potential and existing
LAPO clients, evolve a repayment system that would not have negatives effects
on its clients cash flow and living standard-competitive pricing. He further
listed the objectives of its housing scheme to ensure a sustainable and quality
loan portfolio for the scheme, while Ehigiamusoe also assured of strong
relationship with social investors and partners that support the LAPO scheme.
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