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Southern region: Micro-credit and Savings Program conducts assessment meeting

The branch office of Micro-credit and Savings Program in the Southern region conducted assessment meeting focusing on accomplishments over the past semi-annual period which involved a revolving fund of more than 38 million Nakfa.

Mendefera, 31 July 2013 – The branch office of Micro-credit and Savings Program in the Southern region conducted assessment meeting focusing on accomplishments over the past semi-annual period which involved a revolving fund of more than 38 million Nakfa.

It was indicated that effective work was done to this end, thus giving rise to improvement of livelihood on the part of the beneficiaries.

Speaking at the meeting in which branch heads from the Treasury department, regional Administration and the National Bank, as well as members of the regional Assembly were present, Mr. Gebrehiwet Woldai, head of the programs’s branch pointed out that the beneficiaries are 20,000 nationals comprising low-income citizens. He further disclosed that they have been utilizing credits effectively, and that 85% of them have fully reimbursed their debts.

Accordingly, the program has been collaborating with farmers on the basis of establishing banks for borrowable select seeds, and its 50 multi-functional village banks in all Administrative areas of the sub-zone are committed to improving the livelihood of remote area-dwellers. The majority of the beneficiaries are engaged in agriculture and small-scale merchandizing ventures.

Mr. Tesfatsion Girmai, head of economic development in the region, called on staff members of the Program to sustain endeavors for the realization of the cherished goal, and urged them to further give room to research activities as regards utilization of credits by the beneficiaries.

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