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Microfinance Institute provides 1.5 billion birr in loan |
| Mekele, March 1, 2006
(WIC) - The Ethiopian Microfinance Institute stated that the 1.5 billion birr it has provided in loan for people with low-income has contributed in improving their livelihood. Institute Director, Dr. Wolday Amaha said at the International Microfinance Conference which began here today that 1.4 million people have benefited from the loan service provided through 26 microfinance institutions in the country. Some 38 percent of the recipients of the loan were women in line with the special attention given to build the economic capacity of women,he said,adding that the effort would be consolidated. The director said people with low standard of living have brought significant change in the their livelihood and the institutions have been playing key role in solving the financial problems of the country. Dr. Wolday said governmental and non-governmental organizations need to back up the institutions to expand the services to the rural communities. Speaker of the Tigray State Council, Dr. Wolderufael Alemayehu, said on his part that the financial intuitions have paramount importance in realizing the rural and agricultural centered development strategy designed by the government and the state government would do its level best in the effort to expand the service to the rural community. Manager of the Dedbit Savings and Credit Share Company, Atakilti Kiros said the conference is aimed at expanding the activities the institutions are providing and solve problems they are encountering as well as acquire international experience. He further said the conference would also help to strengthen unity of the microfinance institutions in the country. Some 80 participants drawn from Banks, the International Fund for Agricultural Development and pertinent governmental and non-governmental organizations are in attendance of the five-day conference. |
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