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Credit and savings scheme in Hagaz sub-zone gaining momentum

The credit and savings scheme in Hagaz sub-zone is being expanded as it is playing major role in improving the living standard of beneficiaries, according to Mr. Amine Araya, head of the scheme in the sub-zones of Hagaz and Mensura. Hagaz, 15 October 2010 – The credit and savings scheme in Hagaz sub-zone is being expanded as it is playing major role in improving the living standard of beneficiaries, according to Mr. Amine Araya, head of the scheme in the sub-zones of Hagaz and Mensura.

He pointed out that about 9 million Nakfa has been extended to customers, which in turn was channeled to irrigation farming activities, business ventures and agricultural practices. The contribution of the loan in improving the living condition of beneficiaries is not to be viewed lightly, reports indicated.

Mr. Amine further explained that there are 1,715 customers in 28 village banks in both sub-zones, and that there are over 600 persons who obtained loan at the individual level.

The beneficiaries highlighted the significance of the loan in upgrading their life style and said that they have managed to pay back the money on time.   

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