Grameen launches microcredit in Yemen

New Age Online | Published: 21:23, Jul 07,2020 | Updated: 01:42, Jul 08,2020


One of the first microcredit loan disbursements among 12 women entrepreneurs by Grameen Yemen Foundation, a microfinance organisation in partnership with Grameen Trust and Yunus Centre, was held on July 5, 2020. — Press Release Photo

Grameen Yemen Foundation in association with Grameen Trust has launched microcredit programme in Yemen.

Twelve women were given micro loans for sheep rearing, clothing, vegetables, transport and perfume businesses in the first loan disbursement ceremony held at Az Zuhrah branch of Grameen Yemen on July 5.

Nobel Laureate Muhammad Yunus participated in the ceremony virtually and gave the Keynote speech via Zoom.

Mohamed Swaid, chairman of GYF, Ahmed Al Mahfadi, deputy CEO, Syed Mohammad Alamgir, project director and Harun-or-Rahsid, branch manager, along with other local dignitaries were present at the event.

According to a press release issued by Yunus Centre in Dhaka on Tuesday, Yemen finance minister Rashid Abo Lohom also participated virtually.

Mohamed Swaid has founded Grameen Yemen Foundation aiming at helping people in the Arabian Peninsula where three-fourths of the population live below the poverty line and rely on individual or institutional charity.

Despite the civil war and COVID-19 pandemic in Yemen, Grameen Yemen succeeded in attracting women to start their own micro businesses with loans, said the release.

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