According to confirmed reports, the interim chairperson of ELEFO, former MDC-T MP for Murewa West Ward Nezi initiated the loan facility for the benefit of people from across the political divide.
Sources said an unnamed financial institution had agreed to provide the beneficiaries with the cash. All the bank needed was a letter from parliament confirming the amount owed to the former legislators.
The loans would be for small-scale projects and children’s school fees, and would be repayable on terms yet to be revealed.
There were reports that some former legislators were struggling to make ends meet after life in parliament. Some former MPs said they were not aware of the project.
ELEFO’s constitution is to be unveiled in early 2014. The Forum’s objective is to cushion former members of parliament from harsh economic conditions and help them earn a decent living.
Post published in: News