Ethiopa : AVSF
Microfinance for the poorest. AVSF is a microfinance
institution which was created in 1998 and started business in 1999. AVSF
has become very popular because it is a MFI which does not hesitate to
grant small credits to extremely poor clients (other urban MFI only deal
with better off candidates). These clients often work as a family to secure
their subsistence. With the help of AVFS, recipients are able to overcome
that stage
and develop more rewarding and lasting activities. AVFS is concentrating
its activities in sensitive areas of Addis-Abeba (n° 14).
The objectives of SOS Faim support are as follows:
- To increase the number of beneficiaries to 11 000 in 2006 ;
- to involve some 67 000 persons directly or indirectly ;
- to start a « savings » service and to make savings a precondition for granting credits
- to improve living conditions of recipients (health, schools for their children)
- to contribute to the development of informal economy in the city of Addis-Abeba.
Financing: To support AVSF, SOS Faim needs 55 600 € per year.
