Enugu East Local Government launched a N200 million revolving loan scheme on April 14, 2026, to strengthen women-led businesses and drive grassroots economic growth.
The Enugu East Women Co-operative Revolving Loan Scheme (EEWCRLS) was unveiled shortly after the Council signed a Memorandum of Understanding with Umuchinemere Pro-credit Microfinance Bank at the bank’s headquarters in Uwani, Enugu.
The signing ceremony was done by UPMFB Chairman Rev Msgr. Prof Obiora Ike and the Enugu East Council Chairman, Engr. Pst. Beloved-Dan Obi Anike and witnessed by the Council Secretary Barr. Uche Mbaeke, aides to the Chairman, women leaders, and members of the bank’s board and management.
Funded through the Council’s Human Capital Development Trust Fund, the scheme was designed to support women cooperatives, traders, artisans, farmers, youths, and low-income households across the LGA.
Speaking at the event, Council Chairman Engr. Pst. Beloved-Dan Obi Anike said that the initiative is aimed at deepening financial inclusion and giving women greater access to capital, skills, and opportunities. He added that the program aligned with Enugu State’s broader agenda on poverty reduction and job creation.
UPMFB Chairman Msgr. Obiora Ike pledged professional management of the fund, with strict oversight on disbursement, monitoring, and recovery. He said that the bank would also provide regular business training for beneficiaries to ensure high repayment rates and long-term impact.
Scheme Structure:
A joint management board — drawn from the Council, the Bank, and Civil Society — was constituted to oversee the fund. A Loan Monitoring & Evaluation Committee was tasked with screening applications and tracking beneficiary performance. The scheme covered micro-enterprise loans, agricultural financing, and community projects with viable repayment plans.
The bottom line: With this move, Enugu East LG placed capital directly into the hands of its people. Beyond loans, the scheme represented a deliberate investment in families, enterprises, and the future prosperity at the grassroots.
By Rev. Sr. Loveth Onwukwe {SCHC}
