Shabait.com (Asmara)

21 February 2014

Eritrea: Central Region - Micro-Credit and Saving Program's Branch in Putting Up Endeavors in a Bid to Improve Communal Livelihood

Asmara — The Micro-credit and Saving Program's branch in the Central region indicated that it is putting up endeavors in a bid to improve the livelihood of communities. It made the remark at a meeting, during which Mr. Haile Kidane, Head of the branch office, pointed out that there exist a total of 71 village banks in 16 sub-zones of the region, and that over 8,000 nationals have become beneficiaries of credit a mounting to over 42 million Nakfa credit.

Accordingly, communities have demonstrated commendable awareness as regards reimbursement of credit, and the number of the scheme's beneficiaries who usually engage in irrigation, livestock production and small-scale merchandizing activities has shown 26% growth.

Mr. Haile said that further efforts would be made by the office towards making available more credit opportunities and raising the number of beneficiaries vis-à-vis encouraging timely refund rates.

Stating that the program is aimed at improving the livelihood of nationals living in rural areas on the basis of credit schemes, Mr. Goitom Habtetsion, Acting Manager of the Micro-credit and Saving Program, disclosed that it has more than 55,000 clients nationwide, in addition to a revolving Fund of over 370 million Nakfa. He further called on local Administrations to extend support to the beneficiaries so as to enable them engage worthwise income-generating activities.

In the same vein, Mr. Solomon Mebrahtu, in charge of follow-up of sub-zonal Administrations in the region, explained that it has so far registered a remarkable impact and voiced the Administration's readiness to collaborate with the Program.

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