Ethiopia’s Federal Urban Job Creation and Food Security Agency (FUJCFSA) has given 400 million U.S. dollars worth of loans to 399,000 micro and small enterprises (MSEs) during the Ethiopian fiscal year 2016/17 that ended on July 8.

The agency revealed the figures on Monday during a one year review of its activities, which also showed that out of 399,000 MSEs loan beneficiaries, 155,000 were women and 4,000 others were disabled people.

The loans disbursed during the 2016/17 fiscal year showed an increase of 43 percent from the previous year.

The Ethiopian government has identified corruption, unemployment and rent seeking activities as some reasons behind Ethiopia’s sweeping unrest in 2016.

Since then, the Ethiopian government has embarked on a series of sweeping mass employment and financial assistance strategies to meet the economic demand of the population. Enditem

Source: Xinhua/