Institutions in LAPO collectively disbursed a total of N6,072,877,196 (USD 40,812,347) to boost business operations of clients engaged in agricultural and urban informal sector in the third quarter of 2010.

Managing Director, Mr Godwin Ehigiamusoe who disclosed this while reviewing the institution’s performance during the quarter said the amount represents an increase of 56.36% over the N3,883,780,898 (USD 26,100,678) disbursed during the same quarter 2009.

Ehigiamusoe who said LAPO Microfinance Company, Sierra-Leone also disbursed an equivalent of USD 990,441.55 during the quarter expressed satisfaction with the quality of LAPO loan asset and general performance adding that on time repayment rate during the quarter stood at 99.7%.

He attributed LAPO’s leading position in the microfinance market to her strong service delivery structures and procedures, responsive products and services, adding that the organization has taken steps beyond endorsement to formally adopt the Six Client Protection Principles, which require ‘avoidance of over-indebtedness, transparent and responsible pricing, appropriate collections practices, ethical staff behaviour, mechanisms for redress of grievances and privacy of client data.