More than 439 million shillings which was invested in the prosperity for all program in Teso region, cannot be accounted for.
The money is part of 770 million shillings which was channeled through Teso Rural Development Trust Ltd (TERUDET), a micro-finance institution. The money was intended for the poor people under the bonabagagawale program.
Salim Saleh, the State Minister for Micro-finance, says government has been able to recoup only 339 million shillings out of the 770 million shillings it had given to Teso Rural Development Trust to be borrowed to the poor.
Saleh says the fund was abused by the District Chairpersons and area Chief Administrative Officers who instead borrowed the money and failed to pay back.
Saleh has in the meantime directed that the officials who mismanaged the fund be held accountable.
The offices of Teso Rural Development Trust in Soroti are closed and the officials of the bank are reported to be on the run.
Fred Okello, the Chairman of Soroti District Finance Committee says the funds were greatly abused by the district chairpersons and councilors who borrowed and have never bothered to service the loan.
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Julius Ochen, the Amuria District Chairperson, is among those accused of failing to service their loans. He however declined to comment on the problems facing Teso Rural Development Trust.
prosperity for all