[11 May 2008]

SANA'A, May 11 (Saba) - For first time, Yemen won the chairmanship of Near East North Africa Regional Agricultural Credit Association NENARACA.

In the conclusion of the 17th NENARACA round, the participating corporation elected Hafiz Ma'yad, chairman Yemeni Cooperative and Credit Agricultural Bank (CAC Bank) as NENARACA chairman.

During the round, was started last week in Sana'a, the participating corporations discussed several decisions of the 16th round, achievements of the association, papers on small credits and experiences of banks in funding small enterprises.

The round called on agricultural banks to contribute to reduce poverty in rural regions by offering funds for farmers to improve their agricultural production.

It is scheduled the new executive council of the association would hold its first meeting in Jordan by end of this year.

The NENARACA is a voluntary regional association of credit institutions and agencies in the Near East and North Africa Region that deal directly or indirectly with agricultural credit operations and development.

AH/AH


Saba