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Micro-credit and saving program in Northern Red Sea Region

Massaw, 08 February 2022- At an activity assessment meeting conducted on 4 February in the port city of Massawa, the micro-credit and saving program in the Northern Red Sea Region reported that in 2021 over 20 million Nakfa has been disbursed to customers and over 20 million Nakfa has been collected from beneficiaries of the loan.

Mr. Abdu Ibrahim, head of the program in the region, said that the objective of the program is to provide loan opportunity to customers in remote areas and semi-urban centers that could not get the opportunity from the official financial institutions and that so far 1 thousand 921 citizens have become beneficiaries.

Mr. Abdu commending the support provided from the sub-zonal administrators and stakeholders called for proper identification of those that could be eligible for the program.

Mr. Abdu also revealed a plan for 2022 to establish an office in Foro sub-zone and disburse about 25 million Nakfa to beneficiaries.

Pointing out that the program is significantly contributing in improving the livelihoods of customers, Mr. Tafla Asmerom, acting head of the program, said that reinforced effort will be exerted with partners to expand the program across the country.

The participants of the meeting conducted extensive discussion on the report presented and adopted various recommendations.

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