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(TIMES) Poverty project disburses K6bn

Poverty project disburses K6bn
By Business Reporter

THE Microfinance for Poverty Reduction Project (MPRP) has disbursed approximately K6 billion in loans to various women’s groups in Lusaka urban and Chongwe over the last four years.

MPRP is a pilot collaboration programme between the Governments of Zambia and Japan, United Nations Development Programme (UNDP), United Nations Volunteers (UNV) and the Grameen Trust.

The programme is aimed at developing an effective microfinance model for poverty reduction in Zambia through capacity building of local microfinance institutions.

Micro Bankers Trust (MBT) chief executive officer, Grace Nkhuwa, said the project had reached 3, 309 poor women as at the end of July exceeding the initial target of 2, 400 women.

Speaking in Lusaka yesterday at a media briefing, Ms Nkhuwa whose organisation was one of the institutions selected to implement the project said 1, 612 beneficiaries were in Lusaka peri urban while 1, 697 were in Chongwe .

“Throughout the four years of implementation, the project maintained a zero portfolio risk, this is the first time in Zambia that a microfinance project has reported such excellent portfolio result”. she said.

She said the MPRP was designed in line with the Poverty Reduction Strategy Paper’s main goal of poverty reduction which was in line with the Millennium Development Goals (MDGs) to eradicate poverty and hunger and women empowerment.

Labels: GRAMEEN, MICRO-FINANCE, MPRP

posted by MrK @ 10:39 PM