As part of the effort to expand the saving and micro-credit program in the Gash Barka region, new village banks have been established at three administrative areas in the Forto-Sawa sub-zone.
Barentu, 30 October 2018- As part of the effort to expand the saving and micro-credit program in the Gash Barka region, new village banks have been established at three administrative areas in the Forto-Sawa sub-zone. The saving and micro-credit program provides soft loan opportunity to members of the society engaged in small scale trade, agricultural and livestock breeding activities.
The representative of the saving and micro-credit program in the sub-zone, Mr. Girmai Beraki said that the newly established village banks are in the administrative areas of Homib, Ribda and Molover and that already 321 citizens including 89 females have become beneficiaries.
Indicating that over 2 million Nakfa has been disbursed to beneficiaries, Mr. Girmai said that the beneficiaries engaged in agricultural, livestock breeding and small scale trade activities have registered praiseworthy achievements.
Pointing out that there are 930 customers including 395 females in 16 administrative areas in the Forto-Saw sub-zone, Mr. Girmai went on to say that 4.6 million Nakfa has been distributed to beneficiaries.
The beneficiaries on their part indicated that their livelihoods are improving owing to the opportunity provided by the program.