5 July 2013

Uganda: Microfinance Institutions Join Anti-Aids Campaigns

Microfinance Institutions in Uganda have agreed to support clients infected and affected by HIV/AIDS. This campaign has been inaugurated through the Association of Microfinance Institutions of Uganda in partnership with the National Forum of people living with HIV/AIDS Networks in Uganda.

Robert Ntalaka, the project coordinator said "we have discovered that some of our clients are infected and affected by HIV/AIDS yet they are within the productive age of doing business which in turn increases our business visibility in different parts of the country."

The Agency for Co-operation in Research and Development (ACORD) will also support clients of microfinance institutions. Stop Aids Now (SAN) and Hivos has already put aside over shs680million for the project which will roll out across the country.

Microfinance institutions have been gaining popularity for stabilizing incomes of poor households through poverty reduction and economic strengthening of People Living with HIV (PLHIV).

"This project will cover 20 Microfinance Institutions and 15 groups of people living with HIV spread across Uganda. These institutions were selected through expression of interest to participate in the project," said Ntalaka.

Statistics indicate that there is notable growth in terms of number of depositors and those saving money in the country.

Recently, the cabinet passed Microfinance Tier 4 regulation principles to regulate microfinance institutions and other financial services.

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