No fewer than 101 communities in Yobe State have received $25,000 (about N38.3 million) each as non-interest World Bank loan through the Agro-Climatic Resilience in Semi-Arid Landscapes, ACRESAL, Project.
The State Coordinator, ACRESAL, Alhaji Shehu Mohammed made this known at the signing of a Memorandum of Acceptance with 101 scale-up communities to enable them access a non-interest Community Revolving Fund, CRF, loan in Damaturu.
Mohammed said the current phase would benefit 482 farmers and community groups comprising 7,340 direct beneficiaries involving 4,857 males and 2,483 females.
He said each of the 101 communities would receive $25,000, totaling $2,525,000 (about N3.8 billion).
The state coordinator said the gesture is aimed at enhancing agricultural resilience and livelihoods.
Mohammed noted that the initiative marks a significant phase in empowering climate-vulnerable farming communities across the 17 local government areas.
He said the loan, which followed the successful pilot disbursement to 10 communities, was designed to stimulate economic activities, enhance farmers income and promote responsible financial management.
He added that the facility is in line with global best practices and the World Bank-supported ACRESAL objectives of reversing environmental degradation and promoting climate-smart agriculture in Northern Nigeria.
In his remarks, the Commissioner for Environment and Chairman of the State Steering Committee, Alhaji Sidi Karasuwa described the initiative as a bold step toward agricultural transformation and rural empowerment.
He recalled the symbolic presentation of CRF cheques launched by Governor Mai Mala Buni in January, marking the beginning of the second phase after the initial intervention in two micro-watersheds.
The commissioner urged the beneficiaries to utilise the funds wisely and comply strictly with the approved business plans.
Karasuwa also stressed the importance of prompt repayment to sustain the revolving mechanism and ensure continuity.
