One factory, One project: Communities to begin accessing loans.

imo-state-mapThe Imo State Governor, Owelle Rochas Okorocha has said that communities in the state will soon access soft loans that have been made available by the state government to kick-start the,’ One Community, One Factory Project’ as part of measures by his administration to boost industrial activities in the State, create wealth, tackle poverty and provide jobs for the people of the State.

Governor Rochas Okorocha disclosed this during an interactive meeting he held with some core industrialists, investors and business operators in Imo state at the Imo state Trade and Investment Centre in Owerri.

The Governor who reaffirmed his determination to actualize his administration’s policy of Factory, factory, factory; Industry, Industry, Industry and Job, Job, Job, assured investors and business operators in the state that the state government would always do the needful by providing necessary infrastructure that would make their businesses succeed.

According to the Governor, the sum of five billion naira had been deposited with the Imo State Micro Finance Bank for communities in the state to access, adding that these communities can access the loans at 7% interest rate for one community. He said that some of these communities are not viable hence the need to merge the unviable ones for better result. He pointed out that the community based enterprise development strategy will succeed because every community in the state is blessed with one natural resources or the other which can be harnessed to create wealth, pointing out that what is required is good leadership with the right vision and passion to succeed. He further said his desire was to raise leaders in businesses and captains of industries not mere business managers.

He called on all Imolites to shun partisan politics, de-emphasize primitive accumulation of wealth and rise up to the challenge so that posterity will not judge them harshly.

Contuning, Owelle Rochas Okorocha stated that with the shortfall in oil prices the nation is facing now and which has affected her economy, the door of industrialization must open. He added that people should therefore key into this programme and see it as another window of opportunity to crate wealth and free themselves from the shackles of poverty, pointing out that all hands should be on deck to ensure rapid industrialization of the state instead waiting for monthly Federal allocation.

In an interactive session, the participants pledged to partner with the state government to ensure rapid industrialization of the state. They however, called for an industrial blueprint and the need for communities to form co-operatives, identity their projects, list their needs and prepare detailed proposals before approaching the bank for the loans.



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