Company distributes over 3 bln birr loan
Addis Ababa, 31 January 2014 (WIC) – Addis Credit and Saving Institution S.C said it has distributed over 3 billion birr loan since its establishment 14 years.
Company Communication and Public Relations Support Process Head Miraf Aleayehu told WIC that the loan was distributed among 291, 087 micros and small enterprises.
The company has contributed its share in assisting government’s efforts to address unemployment since loan which it disbursed allowed beneficiaries to create their own jobs, she said.
As part of the efforts to improve the saving culture of the society, the company has also collected and deposited over 1.7 billion birr from clients, she said.
In a related development, the company has also distributed more than 599.7 million birr among 41,000 unemployed compatriots in the first half of this budget year, she said.
The company managed to attain 101 per cent of its target, while the number of clients also increased by 72.2 per cent, she said.
She added the amount of loan the company disbursed during the past six months and number of beneficiaries also increased by 65 per cent and 12 per cent, respectively.
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