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Nakfa 279 million invested through micro scheme program

The Micro Saving and Credit program has in 2015 invested 279 million Nakfa interest free loans to over 57,000 customers in a bid to improve their living standards. Asmara, 13 December 2016-The Micro Saving and Credit program has in 2015 invested 279 million Nakfa interest free loans to over 57,000 customers in a bid to improve their living standards.

Mr. Tafla Asmerom, managing director of the program, indicated that the program which initially started with a capital 13 million Nakfa and around 1500 customers has now shown substantial growth and thus extended services throughout the nation. 

Pointing out that the beneficiaries of the Micro Saving and Credit program have paid 90% of the total loan of 279 million in due time, Mr. Tafla reiterated that the program has been showing remarkable progress.

The beneficiaries of the program on their part said that they have been able to improve their living standards through the Micro Saving and Credit program, and called for the increase of the amount of loan so that they could make substantial and more rewarding investment. 

Reports indicate that since its launching in 1996  the Micro Saving and Credit program has been making due contribution in stabilizing the market, creating job opportunities and balancing demand and supply gaps.

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