Chizokho Vero
November 7
Kohima, (mexn): The North Eastern Development Finance Corporation Ltd, Guwahati (NEDFi) and Nagaland based Entrepreneurs Associates (EA) have brought smiles to Naga entrepreneurs by launching micro finance for development of micro enterprises in Nagaland.
NEDFi today handed over a cheque of Rs. 25 lakh to EA as micro finances to 34 first generation entrepreneurs in the state. “This is a small beginning for a big cause of giving hope and creating economic opportunities in Nagaland,” said EA coordinator Neichute Doulo in a brief function held at Hotel Japfu today.
NEDFi has supported over 300 first generation entrepreneurs and has also generated more than 450 meaningful employment opportunities in Nagaland in the last five years.
We see immense opportunities of wealth and prosperity of Nagaland and we will be the ones to create them, said a radiantly confident Doulo.
So far, NEDFi has invested Rs. 11 crore in Nagaland, said chairman and managing director K. N. Hazarika.
He however regretted that the recovery was very low here. The rate of non- repayment of loan touches at 66 per cent, he said. He also expressed his dismay over lack of credit culture in the region. Hazarika wanted to increases NEDFi‘s network in the state. “We wish to do more in Nagaland,” he said while adding it would cover the areas which have not been reached to as yet.
He said NEDFi is set to organize skill upgradation programme at Longleng from November 15.
Nagaland has many talented youth to take up business ventures but the due to lack of capital, most of them feel insecure to enter into business world, said David Sha. Sha, who runs a Hostel at D Block appreciated the joint initiative of the NEDFI and EA and strongly felt that the entrepreneurs “should be faithful in repayment.”
The partnership between the two would make great things happen in the business sector, said Tiatemsu Longchar, an entrepreneur from Dimapur. He also stressed the need to develop the human resources in proper direction for the economic development of the state.
The term of repayment is 3-5 years. “From our end, we assure that every single rupee that NEDFi finances will be returned with due interest. Our entrepreneurs are vibrant, dynamic and responsible. We love loans and we know how to take care of it, “Doulo said.
Earlier, the function was chaired by Deo Movi while Watila Pongen tendered vote of thanks.
