Fifth int'l micro-finance conference kicks-off in Asossa town
Speaking at the opening of the fifth international micro-finance conference today, State Chief Yaregal Aysheshim said credit and savings institutes support the struggle against poverty by providing start up capital to members of the community who are capable and competent to work.
He said thousands of low-income residents of the state were able to improve their livelihood by securing loans from the institute and engaging in agriculture, small businesses, catering, animal husbandry and other activities during the past four years.
The institute has been improving the livelihood of destitute members of the society by boosting the amount of loan and number of beneficiaries, the chief administrator said, adding that this would help the effort being exerted to ensure food security at household level.
State Credit and Savings Institute Manager, Asmamaw Damte, on his part said the institute with over 31,000 clients has been providing from 10 to 15 million birr loan in a year since its establishment four years ago. Its clients have so far saved over five million birr, he added.
Ethiopian Credit and Savings Institutes Board Chairman, Tekleweyni Assefa, said the Ethiopian Micro-finance Institute has registered impressive gains by designing various strategies and undertaking extensive activities during its seven years existence.
The institute which began by providing four million birr loan for destitute women has at present given more than 1.2 billion birr loan to 430,000 beneficiaries, according to Tekleweyni.
The clients were also able to save 302 million birr, he said, adding that activities are also underway to help improve the livelihood of the public by opening 28 branches in each state.
Managers of local and foreign credit and savings institutes, experts and donors are in attendance of the five-day conference.
