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Old February 8th, 2010, 04:14 AM   #1
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Institute provides over 156.7 mln br loan

Addis Credit and Saving Institute said it has provided over 156.7 million Birr loan to 18,000 beneficiaries during the past six months.
External relations senior expert with the institute, Tesfa Kassa said that the amount exceeded by 92.3 per cent that of same time last year.
Tesfa said the loan was provided to beneficiaries engaged in micro and small-scale enterprises, textile, wood and metal works, construction and catering, among others.
The Institute has set to provide 350 million Birr loan during the current Ethiopian budget year.

The only reason I posted this news is because of this rapid increase ( 92.3%) in the available credit for small scale traders. Very good news considering .... [ recession in US, another new recession projected in Europe ...]
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