Kwara State government has commenced the distribution of a total sum of $250,000 (N350m) interest free loans to 1,000 Kwarans to empower small business clusters across the state.

Governor AbdulRahman AbdulRazaq said the initiative is powered by the World Bank through the Community Revolving Fund (CRF) and implemented under the Kwara State Agro-Climatic Resilience in Semi-Arid Landscapes programme (Kwara ACReSaL).

He said the programme would strengthen grassroots economies and scale up sustainable development. According to him the beneficiaries were drawn from across community interest groups, each of which has received a sum of $25,000.

He urged the beneficiaries to use the funds judiciously to achieve its objectives, and to repay it promptly so that other persons can benefit.

"This World Bank-supported initiative has been designed to provide our women, youth, farmers, and cooperatives with access to resources that will enable them to create wealth, generate employment, and uplift households. Hence it is a practical step towards reducing poverty," the Governor said in Ilorin during the flag-off ceremony.

The state Commissioner for Environment and Chairman of Steering Committee for ACReSaL, Nafisat Musa Buge, said the success of the programme depends on how well the beneficiaries use and repay the funds, calling on them to repay promptly for others to benefit.

Buge, however, said that the Kwara ACReSAL is not just giving out this credit facility to people, but has recently provided some rural communities in the state with potable water to improve their living conditions.

The State Project Coordinator for ACReSAL, Alhaji Shamsideen Aregbe, said the Community Revolving Fund initiative confirms Governor's dedication to inclusive development and shared prosperity.

He thanked the development partners, stakeholders, and implementing agencies, who he said have contributed a lot to make the programme a reality.

The Emir of Shonga, Dr Haliru Yahaya, commended the Governor for his passion for community development, saying that his community is a chief beneficiary of the ACReSAL project and other infrastructural development programmes.

One of the beneficiaries, Mrs Abdulkareem Olapeju thanked the Governor and partners for investing in the initiative, which she described as life changing.