Minister of Local Government and Rural Development Dr. Ben Malunga Phiri has advised beneficiaries of the MEDF loans in Eastern Region to repay the loans so that others can benefit.
Dr. Malunga Phiri was speaking at Mbenjere Secondary School at Ntaja in Machinga on Saturday where he presented official cheques to beneficiaries of the MEDF loans in the Eastern Region.
“These loans are not for free but Government has put flexible measures so that people can repay. MEDF is operating as any other Micro Financial Institution despite being owned by Government.
“When you get these loans you need to pay back so that others can benefit and access some capital. As a revolving fund it is necessary that you repay so that you get higher one and improve our businesses”, said Malunga Phiri.
He further said the MEDF loans are meant for people to start businesses and not spend them on sugar or bread because if they do, they will fail to repay.
Over 480 groups have received MEDF loans in the Eastern Region. Among the groups that received the loans included Nayuchi Women Group, Chimwemwe Youth Club, Nayuchi Youth, Kenneth Kamu, and Ntaja Vendors.