Agona Nyakrom, C/R, Dec. 23, GNA - The Nyakrom Rural Bank has disbursed a total of 5.2 billion cedis to women groups in its catchment to expand their businesses.

The Bank has recovered an amount of 3.6 billion cedis from the groups, with an outstanding balance of 1.6 billion cedis. Dr Samuel Dufu, Chairman of the Board of Directors announced this at a board meeting at Nyakrom, during which the bank's annual budget for the year 2004 was approved.

He said as at November 2003, the programme known as "Women in Development" had 3,381 operatives in Agona Swedru, Bobikuma, Kwamang and Kwanyako.

The Chairman said the programme, which is in line with the government's poverty reduction strategy, and which has been designed to assist women, is to be extended to Kasoa and other areas like Bawjiase and Awutu Beraku, which had not benefited from the facility.

He noted that an estimated amount of 2.8 billion cedis is expected to be disbursed to existing and prospective clients.

Dr Dufu announced that until the introduction of the programme, women in the catchment area of the bank found it difficult to have access to loan facilities with any bank in the area.

He stressed that women could now have capital to trade with, which has reduced poverty among women in the Agona District.

Dr Dufu said that the loan facility had inculcated saving habits in the women, adding that it had assisted people to establish good relations with the Nyakrom Rural Bank, which had given financial assistance.

The Chairman said with the successful implementation of the programme, women in the area had been able to cater for their children's education and support their husbands better than before.

He said the programme has, at least provided job opportunities for 10 people, while profitability of the bank has improved considerably. Dr Dufu commended the Women and Children Affairs Ministry for its financial aid to the various women groups in the area.