Micro-credit and Savings Program branch in Keren affirms effective utilization of loan on the part of beneficiaries

The Micro-credit and Savings Program’s regional branch in Keren said that the beneficiaries, numbering 3,436, have been demonstrating effective utilization of loan which collectively stands at 11 million Nakfa.

Keren, 24 July 2013 – The Micro-credit and Savings Program’s regional branch in Keren said that the beneficiaries, numbering 3,436, have been demonstrating effective utilization of loan which collectively stands at 11 million Nakfa.

Mr. Zeredawit Asrat, head of the branch office, explained that the program is aimed at improving the livelihood of rural area-dwellers on the basis of ensuring credit opportunities. He further indicated that it gives credit opportunities aimed at rain-fed farming in remote areas, and that implementation of such ventures is significantly dependent on Area administrations and other stakeholders.

Accordingly, community sensitization activities seeking the desired behavioral change among creditors have made remarkable impact, while a total of 88 groups of beneficiaries in Filfile Administrative area have become beneficiaries of 264,000 Nakfa credit. Moreover, females, which comprise 40% of the beneficiaries in majority areas of the sub-zone, have demonstrated a relatively more appreciable practice towards saving.

Reports indicate that there exist a total of 2,423 beneficiaries of the Program in the region who work on group basis, while the rest 1,013 individuals work at individual level.