| Microcredits will help people and their communities |
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| 23.12.2008 |
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On June 9-10, 2006 the EU/UNDP funded ELS
project launched a microfinance project in Karauzyak and Kegeily
districts of Karakalpakstan.
Mr. Jonathan Brooks, Policy Advisor of
United Nations Development Programme Office of the regional Bureau for
Europe and Central Asia in Bratislava was present at the launching
ceremony. Mr. Brooks was on a visit to Karakalpakstan and met with
local farmers and small entrepreneurs who received support from the ELS
project to set up farmer’s enterprises. Representatives from district
Khokimiyat, ELS project and partners took part in the launching of the
microfinance programme. This microcredit program financed by the
European Union will be implemented by the Karakalpak Branch of Business
Women Association of Uzbekistan. The total amount of microcredit
funds to benefit population in three districts makes up USD 80,389.
Beneficiaries are the population of 19 communities in the three
districts of Karauzyak, Kegeliy and Shumanai, the most economically
challenged districts in Karakalpakstan. This is the first microcredit
programme implemented by the association to work in rural areas in
cooperation with village community leaders and community based
initiative groups. Expected project beneficiaries
average approximately to 1,200 people who are adding to the number of
existing clients of the association. Loans are to be disbursed under a
group guarantee scheme for small petty trade, small livestock breeding,
services and small production. Each group member will receive loans
averaging between 80,000 and 100,000 Uzbek soums. This sum is expected
to increase after repayment and start of the second loan cycle. The country recognized microcredits
as one of the most effective mechanism to improve living standards,
especially in the regions and mention them explicitly in the Welfare
Improvement Strategy Paper. Microcredits all over the world are seen as
a means to achieve the Millennium Development Goal 1 "Eradicate Extreme
Poverty and Hunger". For more information on microcredit in Karakalpakstan please contact:
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More information on the Business Women Association in Karakalpakstan please contact:
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For information on microcredit in Uzbekistan please see: http://www.microfinance.uz/
For information on microcredit in the ELS project in Namangan please see: www.els.uz
More on MDGs in : http://www.un.uz/eng/mdgs.htm |
Новости и события Microcredits will help people and their communities