In a move aimed at ensuring locals have access to cheap loans, the county government of Uasin Gishu says it is in the process of setting up a Sh1 billion Cooperatives revolving fund.According to county's Trade, Industrialisation and Cooperatives CeC, Phillip Melly, the revolving fund will be giving loans to cooperative societies at a 5 per cent per anum interest rate.Speaking in Eldoret during the launch of Veterans Cooperative Society Limited, Melly said for the past three years the county had been emphasising on the need for locals to join Sacco's, a move he said enabled members get affordable loans.He said over Sh90 million loans had already been given out to cooperatives societies in the last two financial years with over Sh100 million expected to be set aside for the same in the 2017/2018 county financial year."We want our people to be able to have access to cheap loans because we understand this is key for transforming livelihoods and boosting our county's economic growth," noted Melly.On his part the Uasin Gishu County Veterans Cooperative Society Limited chairman Ex-Warrant officer 1 James Kipkorir said the Sacco that already had 300 members was targeting retired and current security personnel."We thought it good to come up with this Sacco so as to help improve our former and current discipline forces personell livelihoods," said Kipkorir.[Uasin Gishu county Trade, Industrialisation and Cooperatives CeC Phillip Melly speaks to press in Eldoret, April 05, 2017. Photo/Hivisaa.com]

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