Transfer of managerial responsibility from UNDP to local micro credit organization EKI for Brcko Rural Micro Credit Facility Loan Funds
15/05/2003
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Head of the European Commision Delegation to BiH, Ambassador Michćl B. Humphreys, UNDP Resident Representative Mr. Henrik Kolstrup and the Executive director local microcredit organization EKI Tuzla Ms Sadina Bina, sign today the Memorandum of Agreement to capitalize Brcko Rural Micro Credit Facility Loan Funds.
This Agreement will regulate the transfer of management responsibilities from UNDP to EKI, for the Loan Funds, totaling 800.000 Euro.
The Brcko Rural Micro Credit Facility is financed by the European Union.
The Brcko Rural Micro Credit Facility was established in order to provide farmers in the area of Brcko District of BiH with investment capital in order to support the market economy in rural areas in Brcko District and BiH through provision of financial resources, needed for start or develop small scale economic activities in the rural environment and to establish a sustainable financial intermediation system.
The specific objective of the Project is to increase small size credit availability for agricultural producers in
Brcko District.
So far close to 2,0 million KM has been distributed to 260 beneficiaries with an average value of a loan 7,500 KM. Through this programme 52 new agribusinesses have been established, creating 83 new jobs and helping to preserve 201 working places.
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