ADDIS ABABA-Amhara State Credit and Saving Institution announced that it has benefited over 238 thousand farmers with solar energy in remote areas of the State where electricity is inaccessible.
The institution has provided over 600 million loans for the procurement of facilities solar sets said, the Institution General Manager Mokennen Yelewumwessen. He also added that having purchased equipment for the purpose, over 238 thousand farmers have become beneficiaries of the project.
Indicating that 60 percent of the people have not access to electricity, he said adding that the Institution developed a proposal and entered the implementation phase before three years to fill the gaps by looking for alternative means.
He said studies show that there is a high demand for renewable energy among the rural communities of the state. Thus, the institution has been playing its best to fulfill the demands of the neediest devising proposal and submitting it to the World Bank. Following the request for a loan, the World Bank approved 173 million171 thousand 500 ETB to be returned in four phases of which 143million 171 thousand has been financed over the previous three years.
Besides the loan obtained from the World Bank, the institution has been devoting to afford alternative energy sources for 238 thousand 787farmers funding and providing a 655 million 179 thousand 530 ETB loan from its own capacity.
Over the fiscal year 100, 000 farmers have become beneficiaries of solar energy as the result of the loan adjusted for them.
Apart from its multi-faceted advantage for the farmers, the technology appeared to be sources of job for the youth in installing and maintaining the apparatus, he added.
He finally stated that the institute will vigorously continue to afford loans for farmers’ hard of access for electricity and find ways to fulfill their energy demand.
The Ethiopian Herald July 23, 2020
BY MULATU BELACHEW
