Nicaraguan Program on
Microcredits Successful
More than 500 women are
benefiting from
low-interest
microcredits sponsored
by the Nicaraguan
government, as a
complement of the Zero
Hunger program being
implemented in rural
areas.
The Zero Usury program,
which was launched in
July, is aimed at
benefiting 7,600 women
from Managua, who will
receive more than two
million dollars in
credits at a 4-percent
interest.
During a public event
held at the Catholic
University of Nicaragua
on Saturday, President
Daniel Ortega compared
the "criminal" interests
of the private bank with
the low interest rates
that the beneficiaries
of the program will have
to pay.
The challenge is to
recover the investment
to implement the program
in other departments,
Ortega said.
The credits are handled
by the Credit Committee
of the Zero Usury
Program, implemented by
the Ministry of
Development, Industry
and Trade, in
conjunction with the
Citizen Power Council,
which are
government-sponsored
community organizations.
According to Ortega, the
microcredit program will
be the counterpart of
the Zero Hunger Program
in urban areas aimed at
benefiting 75,000 farmer
families by giving them
poultry animals, cattle
and other inputs for
them to develop their
own family economy. |
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