Google Translate
UNDP Newsroom - Microfinance in the districts of Djibouti
Body:
It is 9 a.m. in an alley in Balbala, an immense area on the outskirts of Djibouti City. People hurry to and fro in front of the shop run by Nima Moussa Warfa, as they embark on a shopping expedition, engaged in a quest for rice, pasta, flour, and other basic foodstuffs. Aicha Doualeh greets people searching for fine fabrics and boubou gowns of all colours that have been imported from Dubai and India. Despite the heat, there are many people visiting the flea-market in the middle of the morning. Lacking access to traditional financing arrangements, the businesses run by Nima and Aicha have flourished even though they are still quite small. This is why, in order to ensure the success of their venture and sometimes simply in order to make ends meet, these two women rely on the microcredits which they obtain from the credit union. Thanks to the support of UNDP, the credit union opened in January 2009 and its personnel received training. This assistance was delivered through UNDP's programme of support for the Djibouti Social Development Agency, the national entity in charge of implementing the national poverty reduction strategy. Read more: UNDP Newsroom
