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Grameen Yemen holds first loan disbursement ceremony

| Updated: July 09, 2020 09:36:12


Grameen Yemen holds first loan disbursement ceremony

The first loan disbursement ceremony of Grameen Yemen Foundation (GYF) was held at Az Zuhrah branch, the first Microcredit Branch of Grameen Yemen in the Al Hudaydah Governorate of Yemen on Sunday.

Twelve members received micro loans for sheep rearing, clothing, vegetables, transport and perfume businesses. Thirty six women already joined the borrowing groups.

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

GYF’s Chairman Mr. Mohamed Swaid, Deputy CEO Mr. Ahmed Al Mahfadi, Project Director Mr. Syed Mohammad Alamgir and Branch Manager Mr. Harun-Or-Rahsid, along with other local dignitaries were physically present at the event.

Finance Minister of Yemen Rashid Abo Lohom and many local and international public figures attended the ceremony via Zoom. All MDs of Grameen Companies as well as teams of Grameen Trust and Yunus Centre also joined the virtual ceremony.

Villagers of Az Zuhrah also watched the loan disbursement ceremony with great curiosity.

Three fourth of the population of Yemen are under the poverty line. Majority of the Yemeni people are dependant on individual or institutional charity.

Mr. Mohamed Swaid, a great philanthropist and prominent business person of Yemen, founded Grameen Yemen Foundation in collaboration with Grameen Trust to make the ultra-poor self-reliant as well as to develop their socioeconomic condition,

Grameen Trust (GT) deputed two of its senior staff to work with Grameen Yemen to build Grameen microcredit and social business programmes in Yemen.

Despite the civil war in the country and now Corona pandemic spreading everywhere Grameen Yemen succeeded in attracting women to start their own micro businesses with Grameen loans.

Local staff and borrowers were trained by GT staff to get them prepared for this unfamiliar undertaking. Grameen Yemen will be an all-women programme.

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