In a press statement, CABS, one of the country’s top financial institutes, indicated its preparedness to receive applications from eligible firms across the city for possible funding.
“The unveiling of the Distressed Industries and Marginalized Areas Fund is aimed at addressing the capital constraints currently being faced by our local businesses. The fund will allow companies to purchase equipment and raw materials for use in enhancing output, improving the quality of goods being produced and assisting them in meeting their operating costs,” read part of the statement.
The fund in question, if properly monitored, is set to rejuvenate the city.