Dar es Salaam — Oikocredit International will hold its annual general meeting (AGM) in the city this week.
The event is expected to bring together more than 150 delegates from all over the world.
The delegates will also have the opportunity to tour various Oikocredit financed projects in Dar es Salaam, Tanga and Zanzibar. A series of meetings leading up to the AGM have already started and the official Information Day will be held this Wednesday.
The minister for Foreign Affairs and International Cooperation, Mr Bernard Membe, will officiate at the Information Day, which will offer an opportunity to the public to know Oikocredit's activities in Tanzania and East Africa in general.
The Tanzania Country manager for Oikocredit, Mr Deus Manyenye, said Tanzania's hosting of the event was a significant development to promote Oikocredit's activities and showcase the country's peace, beauty and tourism.
"In Tanzania, Sh26 billion has been approved for lending since Oikocredit was inaugurated in the country in 2006," he said. He named institutions that have so far benefitted from Oikocredit as community banks, microfinance institutions, cooperatives, NGOs, fair trade organisations and SMEs.
Oikocredit understands that these institutions do not want to apply for loans from commercial banks for fear that they would be unable to make the repayments, given the high interest rates, lack of tangible securities and other terms and conditions.
"That is where Oikocredit comes in to bridge the gap by providing affordable loans that have relevant social impact in the community," he said.
He emphasised the organisation's central belief in the power of individuals, families and communities to build a better life for themselves if only given a chance.
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