Eritrea: Saving and Micro-Credit Program Improving Livelihoods of Beneficiaries

7 February 2019

Massawa — At an assessment meeting conducted in Massawa on 4 February it was reported that the saving and micro-credit program is significantly contributing in improving the livelihoods of beneficiaries.

According to the report presented at the meeting the number of beneficiaries is growing from time to time and as a result last year 14.6 million Nakfa has been distributed to 1763 beneficiaries through 85 village banks.

The report further indicated that 50% of the beneficiaries are women and 80% of the beneficiaries are engaged in farming activity.

The office of the branch office of the saving and micro-credit program in the region reported that most of the beneficiaries have repaid their loans on time and that so far they have paid 115 million Nakfa and only 34% of the disbursed amount remains with the recipients.

The head of the program, Mr. Tafla Asmerom said that the program is significantly contributing in improving the livelihoods of the beneficiaries and called on others take advantage of the opportunity provided.

See What Everyone is Watching

More From: Shabait

Don't Miss

AllAfrica publishes around 600 reports a day from more than 150 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.