Rural Area Programme On Investment for Development (RAPID) 2024

Rural Area Programme On Investment

The Rural Area Programme on Investment for Development (RAPID), recently launched by the Bank of Industry (BOI) in Nigeria, is set to significantly impact rural communities by empowering youth and women-led businesses.

 With a focus on addressing challenges like rural-urban migration and fostering economic inclusion, RAPID aims to provide equitable access to capital and opportunities for rural dwellers. Read on to learn more about this transformative initiative and how it could benefit your rural business or community.

Rural Area Programme On Investment Overview

The program’s goal is to help communities in rural and economically disadvantaged areas access resources for creating businesses that can raise living standards, create jobs, support national development, and reduce insecurity by restless youth.

Through the RAPID project, the Bank seeks to accomplish the aforementioned goals by lending money to small, micro, and nano enterprises located in rural areas.

Beneficiaries would receive training programs and business consultancy services in addition to cash support to guarantee their businesses’ sustainability, growth, and viability.

Eligibility Criteria

  • Completed Application Form
  • Business Plan
  • Acceptable Means of Identification
  • BVN and NIN
  • Proof of Residential Address
  • Completed Guarantor Forms

Note: The application closes May 29, 2024 we advise you to apply by clicking here.

In summary, the Rural Area Programme on Investment for Development (RAPID) is an innovative step towards promoting equitable economic growth and addressing rural-urban migration in Nigeria.

By providing financial support and opportunities for youth and women-led businesses in rural areas, BOI’s RAPID initiative aims to foster sustainable development and improve the quality of life for rural communities.

 Don’t miss the chance to benefit from this groundbreaking program and contribute to the transformation of rural Nigeria – explore RAPID’s offerings today and unlock the potential of your business or community.

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