Saving and micro-credit program improving livelihoods of beneficiaries

At an assessment meeting conducted in Massawa on 4 February it was reported that the saving and micro-credit program is significantly contributing in improving the livelihoods of beneficiaries.

Massawa, 07 February 2019- At an assessment meeting conducted in Massawa on 4 February it was reported that the saving and micro-credit program is significantly contributing in improving the livelihoods of beneficiaries.

According to the report presented at the meeting the number of beneficiaries is growing from time to time and as a result last year 14.6 million Nakfa has been distributed to 1763 beneficiaries through 85 village banks.

The report further indicated that 50% of the beneficiaries are women and 80% of the beneficiaries are engaged in farming activity.

The office of the branch office of the saving and micro-credit program in the region reported that most of the beneficiaries have repaid their loans on time and that so far they have paid 115 million Nakfa and only 34% of the disbursed amount remains with the recipients.

The head of the program, Mr. Tafla Asmerom said that the program is significantly contributing in improving the livelihoods of the beneficiaries and called on others take advantage of the opportunity provided.