The credit line, facilitated by the Lagos State Waste
Management Agency (LAWMA), will boost the working capital of Private Sector
Participants (PSPs) in waste collection, aggregation, and recycling.
It will empower them to purchase modern equipment such as
trucks and upskill their human resources for smooth and efficient waste
management.
Commenting, Managing Director, First City Monument Bank,
Mrs. Yemisi Edun, said: “We are excited to provide loans to AWAMN members, with
the support of LAWMA, to upscale their operations in order to safeguard the
Lagos environment.
FCMB recognises that a cleaner and more sustainable
environment is key to building a better world for present and future
generations.”
Edun commended LAWMA for striving to maintain the city’s sanitation
standards to prevent the outbreak of diseases associated with poor waste
management.
Also speaking, the Regional Head, Lagos, FCMB, Mr Adelaja
Adeleye, said, “Efficient waste management requires capital intensive equipment
without which AWAMN cannot perform optimally.
As a financial solutions provider of choice, we are bridging
the financing gap in the waste management ecosystem in Lagos with this
N3billion intervention fund. We are optimistic that it will improve the city’s
waste management process, starting from collection, transportation and
treatment to disposal.”
On his part, the President of AWAMN, Mr David Oriyomi,
described the credit line from FCMB as a welcome development. He noted that it
will benefit operators and the state at large because waste managers can now
access funds at a minimum interest rate.
“With improved access to funding, there will be more trucks
in the system and service delivery will be greatly enhanced.
No matter how small the income or expected income, every
member of AWAMN would have access to this credit facility. For this reason,
Lagos residents should expect a more consistently cleaner Lagos, “he said.
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