Benue coy seeks $500m UNHCR-IFC support for IDPs
The Benue Investment and Property Company Limited (BIPC) Thursday unveiled an ambitious business model aimed at empowering internally displaced persons (IDPs) and refugees.
Leveraging part of a $500 million grant sought from the United Nations High Commissioner for Refugees (UNHCR), BIPC intends to equip displaced individuals with entrepreneurship skills and business grants.
The grant, if secured, will also fuel BIPC’s expansion across its Micro, Small, and Medium Enterprises (MSMEs) portfolios, fostering job creation and economic growth.
At the heart of this model lies the integration of distressed persons into society and ensuring their self-reliance. BIPC commits to allocating at least 15% of micro-employment opportunities to refugees, IDPs, and returnees within the state.
The BIPC’s Managing Director/CEO Dr. Raymond Asemakaha-CFA who showcased the model which contains various empowerment schemes that are designed for refugees, returnees, and IDPs in the state before Arjun Jain, Country Representative of UNHCR, noted that $500 million business model presented by BIPC is aimed at providing sustainable solutions to the challenges faced by refugees and IDPs in the state, and the company is confident that its partnership with UNHCR will help achieve this goal,” he said.
He added that the model involved registration and assessment, vocational training, micro-employment opportunities, mentorship, and coaching.
“Others include access to resources, networking opportunities, psychosocial support, legal assistance, gradual transition, and entrepreneurship support. It will also open cooperatives and collectives and skills development.
“We believe that our business model, combined with UNHCR’s resources can make a significant impact and provide sustainable solutions to the challenges faced by the displaced persons,” said the managing director.
BIPC has proposed to give 15% each on every business expansion from the grant to youth from 18 to 45 years.