LAPO MfB, Mercy Corps Sign MoU To Support Vulnerable Farmers in North East

LAPO Microfinance Bank Limited, one of the leading microfinance institutions in sub-saharan Africa has signed a Memorandum of Understanding, MOU with Mercy Corps, an international non-governmental organization to  provide  support to over 540,000 small-holder farmers in Nigeria’s troubled Northeast.

The MOU aims to promote economic activities and recovery in some conflict-affected areas in the North Eastern states of Nigeria, through a market led intervention.

In a statement made available to GreenWhiteGreen GWG, Cynthia Ikponmwosa ,  Managing Director, LAPO Microfinance Bank Limited said:

“This partnership fosters an alignment of purpose by both organizations, which re-emphasizes “rural engagement, empowerment, resilience and sustainability” our mandate of over 30 years commitment to social and economic empowerment of members of low-income households who are most vulnerable.

“Our collaborative interventions such as access to financial and business advisory services to smallholder farmers and other micro, small and medium enterprises in the target locations will further contribute to the current efforts at enhancing financial inclusion and rural economic resilience”.

“While we recognize that our footprint in rural agriculture support in Nigeria as well as our branch network has made LAPO Microfinance Bank a preferred financial institution for this partnership, beyond this, it is our commitment to invest in the real economy.”

GreenWhiteGreen GWG reports that the collaboration between LAPO MFB and Mercy Corps flows from the devastation of the Northeast by the Boko Haram insurgency that has torched many parts of the Northeast.

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