Lift Above Poverty Organization (LAPO), the leading microfinance institution in Nigeria with over 256, 401 clients disbursed a total of N4,309,941,770 (USD 28,954,933) to support enterprise development in diverse areas such as food processing, craftworks, merchandising, fabrication and farming across the country in the first quarter of 2010.

Similarly, LAPO Microfinance Company Limited, Sierra-Leone disbursed N127, 248, 000 (USD 854,875)to clients in that country, bringing the total amount disbursed in both countries during the first quarter of 2010 to N4, 437,189,770 (USD 29, 809,807).

Mr. Godwin Ehigiamusoe, the executive director, who disclosed this while reviewing LAPO’s operational and financial performance for the period, said the amount represents 48% improvement over the sum of N2,995,990,118.3 (USD 20,127,579) disbursed to clients within the same period last year.

A breakdown of the figure indicates that N4,096,853,900 (USD 27,523,372,) was disbursed to micro enterprises, N253, 925,870 (USD 1,705,918)to small businesses while the sum of N86, 410, 000 (USD 580,518) was disbursed exclusively to food crop farmers in rural communities in Edo State.

Ehigiamusoe attributed the organization’s successful performance during the quarter to the capacity which the organization has built over the years, and lauded the commitment of staff who he said traverse hamlets and urban slums to deliver quality financial services to clients.