Micro-finance selects Post Bank for anti-poverty plan
Sep 10, 2006
MICRO-Finance state minister Gen. Salim Saleh has said the government will channel the <i>bonnabagaggawale</i> (prosperity for all) funds through Post Bank.
By Dismus Buregyeya
MICRO-Finance state minister Gen. Salim Saleh has said the government will channel the bonnabagaggawale (prosperity for all) funds through Post Bank.
Speaking to journalists in Kalangala on Thursday, Saleh said Post Bank had been directed to open up branches in all districts.
He said funds would be accessed from the bank at the district branches to the sub-county micro/finance institutions. Saleh said each sub-county would receive at least sh50m under the project.
He said the funds would be released as soon as the question on whether to use the Uganda National Farmers Association (UNFA) or the Uganda Cooperative Alliance (UCA) as an implementing agency is resolved.
Saleh said he disagreed with the decision of the finance minister, Dr. Ezra Suruma, to use the UCA, arguing that UNFA is more competent.
Saleh noted that micro-finance institutions in the western region were more organised, singling out Bushenyi district.
He said many circles had sprung up particularly targeting the funds.
He, however, said some of the circles did not qualify for the funds.
Meeting Kalangala district Farmers association on Thursday, Saleh said he preferred the farmers’ association because they are more organised.
“I am here to seek your advice on what to do because confusion is currently prevailing on what implementing agency we shall use for the bonnabagaggawale programme. I tabled the Uganda national Farmers’ Association, while Suruma opted for the Uganda Cooperative Alliance†he said.
He argued that the farmers could perform better because they know how to prioritise crop production, processing and marketing of their products.
MICRO-Finance state minister Gen. Salim Saleh has said the government will channel the bonnabagaggawale (prosperity for all) funds through Post Bank.
Speaking to journalists in Kalangala on Thursday, Saleh said Post Bank had been directed to open up branches in all districts.
He said funds would be accessed from the bank at the district branches to the sub-county micro/finance institutions. Saleh said each sub-county would receive at least sh50m under the project.
He said the funds would be released as soon as the question on whether to use the Uganda National Farmers Association (UNFA) or the Uganda Cooperative Alliance (UCA) as an implementing agency is resolved.
Saleh said he disagreed with the decision of the finance minister, Dr. Ezra Suruma, to use the UCA, arguing that UNFA is more competent.
Saleh noted that micro-finance institutions in the western region were more organised, singling out Bushenyi district.
He said many circles had sprung up particularly targeting the funds.
He, however, said some of the circles did not qualify for the funds.
Meeting Kalangala district Farmers association on Thursday, Saleh said he preferred the farmers’ association because they are more organised.
“I am here to seek your advice on what to do because confusion is currently prevailing on what implementing agency we shall use for the bonnabagaggawale programme. I tabled the Uganda national Farmers’ Association, while Suruma opted for the Uganda Cooperative Alliance†he said.
He argued that the farmers could perform better because they know how to prioritise crop production, processing and marketing of their products.