Southern Red Sea Region: 95% Of Micro Credit Scheme Reimbursed

The saving and micro-credit scheme in the Southern Red Sea region disclosed that 95% of the 2.5 million Nakfa disbursed to the beneficiaries has been paid back on time, and that they are developing the culture of saving.
Assab, 17 October 2010 – The saving and micro-credit scheme in the Southern Red Sea region disclosed that 95% of the 2.5 million Nakfa disbursed to the beneficiaries has been paid back on time, and that they are developing the culture of saving.

The head of the program, Mr. Ibrahim Mohammed, told ERINA that a number of new clients in the region have become beneficiaries, and the scheme is extending services to a total of 1,450 individuals out of whom 60% are women. He also went on to say the beneficiaries engaged in fishing, salt production and other  business ventures have taken credit ranging from 3 to 60,000 Nakfa, and have been able to pay it back on time. 

Mr. Ibrahim further indicated that 1.2 million Nakfa has been disbursed to various employees of institutions and was paid back.

Ms. Yodit Yohannes, one of the beneficiaries, said she has been able to upgrade her shop using the opportunity.