The Yola-based Standard Microfinance Bank is to partner with the European Union (EU) to train small business operators in Adamawa in financial literacy.

Mr Mani Francis, the Managing Director of the bank, disclosed this in an interview with the News Agency of Nigeria (NAN) on Thursday in Yola.

He said that arrangements had been concluded for the training programme to commence in 2013.

Francis said that the aim of the training was to educate operators of small business enterprises, especially beginners on ways to run their business and how to interact with financial institutions.

“The bank in collaboration with the European Union in 2013 is going to launch a major financial literacy drive to small business enterprises and farmers,” he said.

Francis said that under the agreement, the EU had agreed to assist the bank with technical support to carry out the training.

He said that the expectation was that participants would tap from the experiences of various EU countries.

On the soft loans granted to customers, Francis said more than N200 million was disbursed last year to farmers and small enterprises.

“Last year, we financed about 5,000 farmers and small enterprises with a sum of N200 million soft loans across the state,” he said.

SOURCE: Business Day Online