Govt to spread village banking programme

Written by on February 18, 2019

GOVERNMENT has reaffirmed its commitment towards spreading the Village Banking Programme to all parts of Zambia as it is already yielding positive results.

Minister of Community Development and Social Services, Olipa Phiri said currently, the programme was in 58 districts across Zambia.

Ms. Phiri explained that a well thought out criteria was used when identifying beneficiaries of the programme, especially vulnerable but viable women.

She said this in Parliament on Tuesday afternoon during the oral answer session when she was responding to the question from Chimwemwe Area Member of Parliament Mr Elias Mwila.

Mr. Mwila wanted to know who administers the Village Banking Programme at district level; what the criteria for identifying beneficiaries of the Programme are; what the maximum loan amount an individual is eligible to borrow; what the interest rate for the loans is; and how many people per ward have access to the funds in Chimwemwe Constituency.

And in response, Ms Phiri said the Village Banking loans were administered by the ministry’s district officer.

She emphasized that a maximum of K2000 was given out to eligible people and the interest rate of 20percent was charged after every six months.

The Minister explained that in Chimwemwe Constituency, 54 women were currently accessing the funds in two wards of the constituency.

The 3rd Session of the 12th National Assembly that opened on Tuesday is expected to receive various bills such as the Public Order Act, the Constitutional Amendment bills among others.

The house has further opened with a vacant seat for Bahati Constituency following the expulsion of Harry Kalaba and his consequent resignation from the ruling Patriotic Front Party (PF) .-ZANIS

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