3 March 2018

Eritrea: Micro-Credit and Saving Program - Five-Year Strategic Plan

Asmara — The micro-credit and saving program in a bid to expand service and satisfy customers is working by designing a five-year strategic plan. The report was made at an activity assessment meeting conducted in Mendefera.

Indicating that the micro-credit and saving program is expanding both in coverage and financial capacity, the Acting Manager of the program, Mr. Tafla Asmerom, said that the program is significantly contributing in improving the livelihood of citizens.

According to reports, last year, 29 additional village banks were established nationwide, 124 million Nakfa disbursed to customers and beneficiaries repaid more than 149 million Nakfa.

The micro-credit and saving program was initiated in 1996 and has 20 branches in the six regions including 664 village banks with 65 customers in groups and individual level.


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