Juansa (Ash), Dec 20, GNA-The Asante-Akyem Rural Bank is among the six institutions in the country selected to participate in the United Nations Development Programme (UNDP) on micro-financing programme.

The first part of the capital grant of 200 million cedis has been received and the bank has started working on the various groups and individuals that will benefit from the fund.

Mr Francis Opuni-Sekyere, Chairman of the Board of Directors of the bank, announced this at the 16th annual general meeting of the bank at Juansa in the Asante-Akim North District on Friday.

He said the bank has again been selected to participate in the Village Infrastructure Project (VIP) and that the bank has received over one billion cedis for disbursement to the active-rural poor to help reduce poverty and improve living standards of the rural folks. Mr Opuni-Sekyere said the bank has also introduced a micro-finance product code-named "Adwadifour Nkosuo" under a pilot project at Juaso, Konongo and Odumase agencies which is designed to cultivate savings habit among customers as well as enabling the customers to access credit and that it would be expanded under the UNDP and VIP micro-finance programmes.

He told the shareholders that a new product called "Abusuapanin Anidasuo", would soon be introduced by the bank.

The chairman said the bank has been honouring its social responsibilities and that it has provided cash and building materials to various educational institutions in the district, adding that 600,000 cedis each was given to five students from both Asante-Akim North and South in support of their education.

Mr George Frimpong, District Chief Executive for Asante-Akim North, commended management, staff and shareholders for their good work to promote the bank.

He, however, urged them not to rest on their oars but to work harder, calling on the workers to respect all customers by giving them equal attention.

The DCE advised all those who had taken loans from the bank and the district assembly to repay them to enable the bank and the assembly to fight poverty, diseases and ignorance and provide more social amenities for the people.

Nana Kwame Agyeman Tiatoa, Paramount Chief of Juansa, called on the Apex Bank to team up effectively with the Association of Rural Banks to support the rural banks in their efforts to support rural dwellers to improve on their lot.

He appealed to rural banks not to offer scholarships to only shareholders but should also consider customers who could not cater for their children who are brilliant and needed support.