20 November 2012

Eritrea: Anseba Region - Micro-Credit and Savings Program Striving to Promote Outreach of Village Banks

Keren — The Micro-credit and Savings Program's branch in Anseba region indicated that it is exerting efforts to promote outreach of village banks.

Mr. Biniam Yohannes, head of the branch office, pointed out that it is operating in 10 sub-zones of the region, and that the beneficiaries of the program include small-scale business owners, civil servants and Associations. He further disclosed that a total of 37 million Nakfa has been credited by beneficiaries in the region.

According to a new scheme of the program, 2,899 farmers in Anseba region became beneficiaries of a total of 24.6 million Nakfa credit last summer which is intended for livestock farming. Moreover, 90% of the credited cash has been reimbursed on time, reports indicated.

Stating that the role of stakeholders and Administrations is crucial in the implementation process of the program, Mr. Biniam called on the beneficiaries to drawn up neat plan besides setting appropriate timing and place for investment. Future undertaking of the program would focus on the sub-zones of Sel'a and Adobha, he added.

Among the beneficiaries, Ms. Lemlem Gebrehans, Ms. Rahwa Berih, Mr. Dawit Teklai and Mr. Niguse Wolde said that they are in a position of paying back credits in the wake of its prudent utilization.

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