In the first quarter of 2024, Dire Micro-Finance Institution announced that it dispersed more than 200 million birr in loans.
Dire Micro-Finance Institution is working to increase the economic potential of the segments of the society targeted by the Dire dawa administration in both urban and rural areas, that means those who are engaged in small and medium-sized income-generating activities and those who want to be employed in low and middle-income groups, especially women and youth, by providing customer-oriented credit and savings services.
In this regard, it was stated in the quarterly performance report that the institution disbursed more than 200 million loans in the first quarter of 2017 in order to achieve its mission and benefit the members of the society who are the center of attention through loan and savings services.
In the quarter, women were among the beneficiaries of this loan distribution and it was reported that more than 102 million birr was distributed to 563 women.
Regarding the benefit of youth loan distribution, it was pointed out in the report evaluation forum that more than 776 youth benefited from 129 million birr loan distribution in the quarter.
In the first quarter of the fiscal year 2017, 931 enterprises benefited from the distribution of loans of more than 190 million birr.
In general, the quarterly performance report indicates that more than 159 million birr was planned to be distributed in the quarter and more than 200 million birr was distributed more than planned.
It is the collection of savings that is creating great potential for the credit distribution of the institution and is making unique contributions.
Regarding savings collection, as a whole, in the first quarter of 2017, more than 200 million birr were planned to be collected and it was possible to collect more than 400 million birr more than planned.
Regarding loan repayment, in the first quarter of 2017, it is planned to collect more than 93 million birr and it was possible to repay more than 95 million birr.
Mr. Teshome Abebe, the chief executive officer of the institution, who was present at the report review forum, emphasized that credit quality plays a major role in effective credit delivery and that credit quality should be done with attention. In addition to this, he said, since it is possible to collect resources for loans through savings services, the institution’s savings rate should be increased by working hard in both urban and rural areas. He said that it is necessary to continue the effectiveness of the institution by strengthening the relationship with partners and developing a coordinated system.
Leave a Reply