The Ethiopian government has selected the Irish League of Credit Unions to develop credit unions in the country, the Ethiopian Herald reported.
According to the journal.ie, the charitable arm of the Irish credit union movement, the Irish League of Credit Unions’ International Development Foundation (ILCUF), has been awarded a two-year project which aims to allow half a million people in Ethiopia access “affordable and flexible” financial services.
The project aims to assist women in particular, through enhanced access to affordable and flexible financial services, mainly savings and loans facilities.
The foundation secured the contract after a lengthy and competitive bid process.
Irish Minister for Trade and Development, Joe Costello said, “I am sure that ILCUF’s work in Ethiopia will also help lift many people in rural communities out of poverty. The Embassy of Ireland in Addis Ababa supported the ILCUF bid and the award of the contract is especially welcome since it reflects wider efforts by the Government to secure more business for Ireland through multilateral organizations”.
“We are delighted to be granted this major project to support the development of credit unions in Ethiopia. Ireland has had a proud tradition of helping in Africa. The foundation was set up to maintain this tradition, sharing the success of the Irish credit union movement with similar movements in the developing world,” said Kieron Brennan, ILCU CEO.
He added that winning the contract is a major endorsement for the Irish credit union model and a great boost to partner countries fighting to alleviate poverty.
The ILCU has previously involved in the development of credit union movements in Ghana, Gambia, Liberia and Sierra Leone, according to the Ethiopian Herald.
Source: The Ethiopian Herald
