24 January 2013

Eritrea: Micro-Credit and Saving Program Making Remarkable Impact

Dirko — The inhabitants of Emni-Haili sub-zone expressed satisfaction with the Micro-credit and Savings Program, and said that it has made remarkable impact in the improvement of their livelihood.

Among the beneficiaries, Mr. Tesfagiorgis Tewolde and Mr. Daniel Kidane indicated that they are in a position to ensure success in the farming process and run small-scale business.

Mr. Asmerom Tesfamichael, head of the program's branch in the sub-zone, explained that there exist 10 multi-functional village banks in the locality with a total of 376 customers. He further pointed out that more than 2.8 million Nakfa was extended in credit in 2012, 87% of which has already been reimbursed.

The majority of the program's beneficiaries in the locality comprise farmers who utilize the credits in agricultural venture, according to reports.

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