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Loan utilisation courses vital-Meghji
2007-02-21 09:10:59
By Lydia Shekighenda
Finance Minister Zakia Meghji has said that training of Small and Medium Entrepreneurs (SMEs) on proper utilisation of the soft loans is key to fostering the country`s economic growth.
The minister made the remarks yesterday when opening the National Bank of Commerce’s Mlimani City Branch in Dar es Salaam
Meghji said the provision of business management skills to SMEs would help them to effectively utilise soft loans, hence change their standard of living.
`Some people have no loan utilisation skills, thus the need to empower them,` she said
Meghji commended NBC for complementing government efforts aimed at reducing poverty by increasing investment.
`It is important that private financing to social and economic sectors is made available at reasonable interest rates and with less bureaucracy,` she said
She said NBC had contributed 130m/- to the government for implementation of the National Economic Empowerment Policy which will empower local entrepreneurs through provision of soft loans.
`These funds will be used to train 360 SME managers from various parts of the country this year so that they can use the soft loans effectively,`she said.
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