Micro-Credit and Saving Scheme benefiting farmers in Laelai-Gash sub-zone

Beneficiaries of Micro-Credit and Saving Scheme in Laelai-Gash sub-zone said that the program is playing major role in enabling them ensure food security and guarantee animal health.

Laelai-Gash, 18 October 2010 – Beneficiaries of Micro-Credit and Saving Scheme in Laelai-Gash sub-zone said that the program is playing major role in enabling them ensure food security and guarantee animal health. 

In line with the newly opened loan service a loan ranging from 10,000 to 40,000 Nakfa is being extended to cattle owners taking into account their cattle resource. 

The beneficiaries explained that such a loan which is channeled to the buying of grasses and other animal feed is quite effective. They further noted that the loan thus secured enabled them to save their cattle from being sold as there existed shortage of animal feed last year. In this respect, the beneficiaries stated that the loan was extended at the right time when the needy and disadvantaged farmers have nothing to rely on other that such government-sponsored loan. What makes the loan even much more attractive is that it is supposed to be paid back when the beneficiaries have the capacity to do so, they declared. 

In accordance with the plan mapped out to rescue cattle resource, the Credit and Saving Scheme branch in Tokombia has extended over 7.8 million Nakfa in loan to 515 nationals, in addition to providing about 15.7 million Nakfa for the purpose of purchasing oxen, agricultural tools and the like, according to reports.