Savings and Micro-Credit Scheme in Northern Red Sea Region Improving People’s Lifestyle

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Shabait.com (Asmara) 30 May 2011 Dubarwa — Farmers engaged in vegetable farming below micro-dams and water reservoirs in Dubarwa sub-zone are boosting production for export, beyond ensuring food security and stabilizing the local market, according to Mr. Samuel Amanuel, Chairman of fruits and vegetables association in the sub-zone. He explained that that the land for cultivation increased from 850 hectares to 1,500 hectares as a result of the expansion of activities.

Shabait.com (Asmara)

30 May 2011

Massawa — The Savings and Micro-Credit Scheme in the Northern Red Sea region is playing commendable role in improving the living standard of nationals through extending loans, according to Mr. Haile Embaye, Head of the Office.

He told ERINA that the program is aimed at extending financial service to low-income nationals in remote areas and semi-urban centers, and thereby encourage them engage in small-scale investment ventures.

The scheme has opened over 35 village banks through setting up branch offices in the sub-zones of She’ib, Ginda, Foro, Gelalo and Massawa, Mr. Haile added. Out of the 3,000 beneficiaries of the program, 35% are women.

There are also plans to extend loan amounting to 700 to 100,000 Nakfa in the next five years to about 1,000 nationals engaged in marine activities and marine-related trading activities, he stated.

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Savings and Micro-Credit Scheme in Northern Red Sea Region Improving People’s Lifestyle