For Immediate Release
Moroni, Comoros: USAID/Madagascar Mission Director Susan Sawhill Riley visited Grand Comoros March 10 – 13 to review the accomplishments of a small USAID-finance program managed by Planet Finance that has created employment and income generation opportunities.
“This $317,000 microfinance program is increasing the business and leadership skills of vulnerable groups helping them learn to manage businesses, increasing their access to credit, and promoting the entrepreneurial spirit that is so essential to development,” said Ms. Sawhill Riley.
The program is also strengthening the technical and vocational skills of the poor by providing technical education in specific trades, occupations or vocations (food preparation, beauty industry, and local goods production) to develop income-generating activities.
Eighty USG-supported training events were held on the three islands of Comoros, enabling 1,659 of the most vulnerable people to be sensitized on entrepreneurship and economic opportunities. Four growing sectors – electricity, food processing, ylang ylang and coffee production – were identified for the provision of technical and vocational skills for the targeted groups. One hundred and sixty seven people participated in vocational skills training in the identified sectors, including electricity training, coffee production, food processing and ylang-ylang cultivation.
The business, management, financial and leadership skills of one hundred and thirty nine (139) people have also been improved through USAID-funded training. Some thirty selected beneficiaries have already accessed microcredit loans.
Last updated: October 23, 2014