The Edo State Governor, Godwin Obaseki and the Bank of Industry (BoI), have unveiled a Micro Small and Medium Enterprise (MSME) development fund worth N2bn to support entrepreneurs in the state.

The fund was launched during a citizens’ engagement session organised by the Edo State Skills Development Agency, also known as EdoJobs, held at the Government House, in Benin City, with the theme, ‘Empowering the youths to create sustainable livelihood’.

According to Obaseki, “the Bank of Industry (BoI), a reliable partner, is here today to launch the MSME fund. The initial amount is N2 billion; we are making available N2 billion for MSMEs in Edo State.

“In addition, we have a N165 million fund, as part of the first tranche from the Edo State Government. It will be made available to small businesses, which are currently domiciled in our production hub.

The money is to support and encourage them to grow their businesses. The Edo State Government provided N1 billion, while BOI provided the other N1 billion, making it N2 billion, with an attractive interest rate.” “BOI has the capacity and resources to support this kind of programme.