29,400 Ebola affected petty traders to benefit from microcredit scheme

29,400 Ebola affected petty traders to benefit from microcredit scheme

A consortium of Non Governmental Organizations (NGOs) led by World Vision, Catholic Relief Services, World Hope International and BRAC with funding from UK Aid has started a one year project to rebuild livelihoods of Ebola affected Petty Traders in Sierra Leone.

Bintu Moseray, Livelihood Adviser at World Vision Sierra Leone explained that 29,400 petty traders will benefit with a total budget of £5 million provided by the UK Department for International Development. Each grant will be £27, an equivalent of Le 200,000 and start-up capital will be provided of $85 with 5% per cent interest for twelve months.

Financial service providers Airtel and Splash will be used to transfer the grant through Micro finance institutions to ensure transparency and accountability. The Deputy Minister of Trade and Industry, Mabinty Daramy spoke about the negative impact of the Ebola Virus Disease on the economy and applauded the NGO consortium for their intervention in supporting petty traders to recover.

She pointed out that the interest rate for beneficiaries of the project is at 5 per cent and urged partners to embrace the project to regenerate the economy through trade and investment. Marlon Bockarie Conteh from the Office of the President said “we want to ensure that ebola affected petty traders recover from the post ebola loss.”

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