Empowering People through Saving and Microcredit
Share A practice that started 26 years ago, Saving and Microcredit Program (SMCP) is changing the lives of so many people in Eritrea. The Office of the Saving and Microcredit Program was introduced in Eritrea in July 1996 with a view to improving the living standard of clients under its supervision. Under the auspices of the Ministry of National Development, the small financial institution started by giving a loan of 1.3 million Birr to citizens. People in rural areas and small towns who do not have access to banks, people who cannot put up a collateral, members of the defense forces who have...