The Ministry of Tourism, Environment and Natural Resources has expressed worry that out of over K5 billion disbursed to 125 applicants under the Forestry Development Credit Facility (FDCF) only K480,911,150 (Four hundred and eighty million, nine hundred and eleven thousand, one hundred and fifty kwacha) has so far been paid.
The Ministry said a total of K5 860, 444, 530 ( five billion, eight hundred and sixty million, four hundred and forty four thousand, five hundred and thirty kwacha disbursed to 125 applicants under the Forestry Credit Facility from January 2005, only K480,911,150 has been recovered so far.
In a Statement released to ZANIS in Lusaka today, by Ministry of Tourism, Environment and Natural Resources Public Relations Officer Bwalya Nondo said this leaves an outstanding balance of K5, 396, 033,381 (Five billion, three hundred and ninety six million, thirty three thousand, three hundred and eight one Kwacha).
The Ministry has since made a passionate appeal to all beneficiaries of the Forestry Development Credit Facility (FDCF) to ensure that they pay back their loans within the stipulated loan servicing period.
He said this will allow for the revolving fund to be spread out to as many Zambians as possible and contribute to poverty reduction in the country.
Mr Nondo said those who have borrowed from the fund should be considerate by ensuring that they fulfil their financial obligations to allow others to benefit from the loan facility.
The purpose of the fund is to create wealth among indigenous Zambians, generate employment opportunities, and ensure that the Forestry sector makes a significant contribution to poverty reduction in the country.
The fund is also meant to make people realise the economic value that forests have to offer and engage communities in conservation and management programmes being implemented by government.
Forestry-related entrepreneurships which the credit facility supports include bee-keeping and bee-product processing development, ecological and environmental conservation, plantation and woodlot development, timber production and wood processing, and mushroom production.
If you give credit to somebody with no capacity to repay what do you expect?
SINCE YOUR know who you gave our money to get off your back side,stop mourning and get it right back NOW.
Name and shame who have failed to repay(PUT THEIR PICTURE TOO- FROM THE NRC).
For interests sake how of those who have failed to pay are staff and their immediate relatives….
Am sure you are not bothered you will still get your salary at the month end oh with xmas bonus for that matter.
For how long though?