By HELEN ZULU –
THE Citizens Economic Empowerment Commission (CEEC) has disbursed loans worth over K300 million to over 3,000 targeted citizens in the last eight years.
CEEC director general Likando Mukumbuta said the commission had since 2009 disbursed over 304 million worth of loan to about 3,986 targeted citizens in the country creating over 30, 000 jobs in rural areas.
Mr Mukumbuta said since 2008, the commission had received over 50, 000 applications for funding but it was only able to fund about 3,986 projects representing a high demand for the services.
He said in an interview in Lusaka that the commission was working closely with the Treasury to ensure that funding to the commission was increased so that the number of projects to be funded could also increase.
“Since 2008, we received over 50, 000 applications for funding but we were only able to fund about 3,986 projects which was in the order of  six per cent representing a high demand for the services.
“We have been able to disburse just about K304 million since 2009 and we have created over 30, 000 jobs in rural areas,” Mr Mukumbuta said.
He said under the District Value Chain Programme, the commission was able to increase funding to rural areas as 92 per cent of the funding went to rural areas, 42 per cent to women and about 30 per cent of the funding to the youths.
“In 2012, we came up with a new programme called District Value Chain Development programme for which we started disbursing loans in 2013, we have disbursed about 1,800 loans and 92 per cent of the projects went to the rural areas to promote equity in the rural areas.