ARMENIA: SMALL LOANS MAKE A BIG DIFFERENCE
03 Jan 2006
GMTSource: United Methodist Committee on Relief (UMCOR) - USA
UMCOR Armenia’s AREGAK program is a micro-lending program that supports women in small business enterprises, allowing them to better provide for their families. The majority of AREGAK’s clients are poor, rural women. The loans help women and their families increase their income. In many cases the family has more funds available for medical and educational expenses.
Today, 10 service centers providing financial services to over 450 rural and urban communities across Armenia have extended more than 90,000 loans for a total value of over $45 million. The repayment rate of these loans is a noteworthy 98 percent.
Support the good work UMCOR Armenia is doing by giving to UMCOR Advance #250225, Armenia Emergency.
Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.
GMTSource: United Methodist Committee on Relief (UMCOR) - USA
UMCOR Armenia’s AREGAK program is a micro-lending program that supports women in small business enterprises, allowing them to better provide for their families. The majority of AREGAK’s clients are poor, rural women. The loans help women and their families increase their income. In many cases the family has more funds available for medical and educational expenses.
Today, 10 service centers providing financial services to over 450 rural and urban communities across Armenia have extended more than 90,000 loans for a total value of over $45 million. The repayment rate of these loans is a noteworthy 98 percent.
Support the good work UMCOR Armenia is doing by giving to UMCOR Advance #250225, Armenia Emergency.
Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.
posted by Vahe Balabanian at 11:13 AM
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