By Septimus Senessie in Kono
The International Fund for Agricultural Development (IFAD) has officially commissioned a newly constructed community bank in Jaiama in the Nimikoro Chiefdom in the eastern Kono District of Sierra Leone.
National programme coordinator of IFAD, Mohamed Tyjan Kella, said government had through IFAD brought the initiatives of Community Banking and Financial Service Association programme in the rural communities after the war to stave off hunger and poverty, create loan facilities for poor farmers, women and other low income earners without collateral so as to increase rural investment in the country.
He said the bank would help farmers brush their farms and enable them pay their children’s school fees and settle other domestic financial commitments.
Kella said they started their banking operations in Nimikoro chiefdom in 2008 with a very small bank called Nimikoro Financial Service Association (NFSA) and that “their performance over the years pushed them to the
highest point” of having a Community Bank.
He said three such banks were established in Kono district with a total of thirteen countrywide and that there were plans to establish more in the coming years.
He told the gathering that the first phase of the project would come to its final stall in 2014 with the second phase starting in 2015 and lasting till 2021. He said some US$ 40 million had been secured for the second phase and encouraged the people to make good use of the bank which he said carried out the same functions as commercial banks.
The District Director of Agriculture in Kono, Musa Kandeh described the bank as the source for the eradication of poverty, adding that a bank at the door step of rural farmers was a life saver. He said that through the government “flash project” a lot had been done in the district to improve agriculture, feeder roads rehabilitation, inland valley swamp development and the construction of Agricultural Business Centre.
Paramount Chief of the chiefdom, Aiah Denton Bana Foamansa III appreciated government through IFAD “for bringing such development” to his chiefdom and assured of the proper utilisation of the bank.
(c) Politico 04/10/12
