Micro credit program improving lives of customers

The micro credit and saving program reported in the last 20 years to have significant contribution in improving the livelihoods of beneficiaries.

Asmara, 15 July 2017- The micro credit and saving program reported in the last 20 years to have significant contribution in improving the livelihoods of beneficiaries. The comment was made at an assessment meeting held on 13 July.

At the meeting in which research papers by experts from the Halhale College of Business and Economics were presented, Mr. Afwerki Tesfai, Director of the Minister’s office of the Ministry National Development, pointed out that the scheme which commenced with small scale in 1996 is to date playing due role in enabling citizens become self supporting and productive members of the society.

The Acting Manager of the scheme, Mr. Tafla Asmerom on his part indicated that the micro-credit and saving program since its establishment has accumulated more experience and is expanding its activities all over the country.

The experts that presented the research papers explained that the program beyond creating job opportunities and income generation schemes is contributing in the national development endeavors.

The micro credit and saving program that was introduced in 1996 has now 635 rural banks and 64 thousand customers out of which 34 are women across the country and has so far disbursed 2.75 Billion Nakfa to beneficiaries.