Ethiopia: Microfinance Institutions Loan Portfolio Stands at 4.6 bln Birr (USD 4...
Ethiopia, May, 09 2009 -
The microfinance institutions operating across the nation have reached over 2.2 million active borrowers with an outstanding loan portfolio of approximately 4.6 billion birr, the Association of Ethiopian Microfinance Institutions (AEMFI) said.
In connection with its 10th year anniversary, which will be celebrated starting from May 18 with various events, the association said that the microfinance institutions were moreover able to mobilize 1.6 billion birr in savings respectively.
The 10th anniversary of the association is a unique opportunity to celebrate the success of the industry as a whole, it said. Currently, the network has 29 member microfinance institutions and associate members. Plans are under way during the anniversary to conduct regional network workshops, present the association’s performance and challenges over the last 10 years and to promote the role of microfinance in Ethiopia.
“AEMFI has been recognized as a leader and voice of microfinance in Ethiopia for the past 10 years. It has been supporting action-oriented research activities, value-adding trainings, knowledge management, standard settings and best practices, which have all made major contributions to improve the performance and professionalism of the microfinance institutions,” said Dr. Wolday Ameha, executive director of the association.
Since 2006 the association had established a financial cooperative unit to provide support to the cooperative sub-sector. The network has also created harmony and coordination of activities among policy makers, donors and practitioners.
The association was established and registered by the Ministry of Justice in 1999 as a non-profit and non-governmental organization in a bid to deliver sustainable financial services by member microfinance institutions to people in the country lacking banking services.