Introducing the RAPID Initiative: Empowering Rural Communities through Financial Support and Training
The RAPID initiative by the Bank of Industry aims to transform rural and economically disadvantaged areas by providing the necessary resources to develop enterprises. This program is designed to boost employment, enhance the standard of living, and contribute to national growth while addressing issues of youth restiveness. By offering financial support to nano, micro, and small-scale businesses, the RAPID initiative seeks to create sustainable growth in rural communities.
Financing Program for Micro and Small Businesses, and Community Groups
This program offers funding and support for projects that aim to grow micro and small businesses and develop community infrastructure in rural areas. Beyond financial support, beneficiaries will have access to vital business advisory services and training programs to ensure the longevity and success of their ventures.
Target Audience
- Micro and Small Businesses
- Community Groups in Rural Areas
Program Details
BOI Rural Area Programme On Investment for Development
Benefits of the RAPID Initiative
- Empowerment: The program provides resources, skills, and opportunities to local businesses in rural areas, focusing on youth and women entrepreneurs.
- Job Creation: By fostering the growth and expansion of rural enterprises, the initiative stimulates job creation, particularly for youth and women.
- Economic Diversification: The initiative promotes the development of diverse economic activities beyond traditional agriculture, encouraging a variety of enterprises in rural areas.
Requirements for Participation
- Completed Application Form
- Business Plan
- Acceptable Means of Identification
- BVN and NIN
- Proof of Residential Address
- Completed Guarantor Forms
- Other Terms and Conditions Apply
Application Deadline
The deadline for applications is May 29, 2024.
How to Apply
If you are interested and qualified, please visit the Bank of Industry Limited’s website at rapid.boi.ng to apply.
Join the RAPID initiative today and be a part of building a prosperous future for our rural communities!
