IFAD Communities To Raise Funds For Financial Service Association Scheme

Communities under International Fund for Agricultural Development (IFAD) programme are expected to raise money for the benefit of members under the Financial Service Association -FSA- scheme.
The National Programme Coordinator of IFAD, Alhaji Lawal Ida stated this at the opening of a five-day training on associations finances in Katsina.
He told participants drawn from twelve Local Government areas in the state that money raised was to be used among members through revolving loans.
The IFAD National Programme Coordinator said those who benefited would repay fifty percent of the loan to associations.
The National Component Head of -FSA- Mr. Abel Ameh therefore advised -FSA- members to work hard.
Earlier, the Katsina State Component Head of the Associations of IFAD, Alhaji Abdulkarim Abdullahi called on participants to rise to the challenge by raising share capital.
Alhaji Abdulkarim explained that men, women and youth should all continue to buy shares for the take-off of their respective –FSAs-.
In a remark, the State Programme Officer, represented by Abubakar Ibrahim `Yar’adua cautioned participants against careless handling of money raised from shares.
Presenting a paper Mr. Haruna Gutap said the FSA would increase income, enhance food supply and control the risk of loses by farmers especially women and youths.    
Another presenter, Mr. Maiwada Abdullahi said formation of –FSA- would assist communities in financial transactions because commercial banks do not take the pain of operating in rural areas.


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