Micro-credit and saving program in Northern Red Sea Region

The meeting participants extensively discussed the presented report and adopted several recommendations.

MASSAWA, Eritrea, February 8, 2022/APO Group/ —

At an activity evaluation meeting held on February 4 in the port city of Massawa, the savings and micro-credit program in the northern Red Sea region reported that in 2021 more than 20 million Nakfa were disbursed to clients and collected more than 20 million Nakfa. of the loan recipients.

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

Mr. Abdu, praising the support provided by sub-zonal administrators and stakeholders, called for proper identification of those who might be eligible for the programme.

Mr. Abdu also revealed a plan by 2022 to establish an office in the Foro sub-area and disburse around 25 million Nakfa to the beneficiaries.

Noting that the program is contributing significantly to improving clients’ livelihoods, Mr. Tafla Asmerom, acting head of the program, said a reinforced effort will be exerted with partners to expand the program across the country.

The meeting participants extensively discussed the presented report and adopted several recommendations.