AfDB Partners with Korea in Growing SMEs in Coted’Ivoire

The African Development Bank (AfDB) in collaboration with the Korean Government with the support of the Ivorian government have helped in the growing small businesses in two small communities in Yamuossoukro, Coted’Ivoire.

The project named Saemaul Undong translates in English as “The New Community movement” has three principle of diligence, self-help and cooperation.

The two beneficiary villages were Natta and Ngbekro and were selected because they met the criteria required for the project.

The criteria include, access to road, willingness of the people to own the projects and ability to collaborate with each other to enlarge businesses.

About 2,961 people benefited from the project in the two communities and it has helped to transform their lives, brought development in the community as well as reduced rural urban migration.

Apart from loans given to farmers, artisans , weavers among others, they were trained on how to manage their business and in modern day agriculture.

The communities were supported with health facilities, Nursery and Primary schools, Town halls among others.

The project was Korean model of business development that helped in economic development in their country.

Below are some photos of the project in the communities

Mrs Zounon Slyvie, Tomato farmer
she got five hundred dollars loan and repaid in four months, she has doubled her farm and employed six permanent staff and about five daily workers that gets daily five dollar stipend.

The bank and its partners advocate that the Saemaul Undong project should be replicated in the rural communities for African to reduce poverty, rural urban migration and ensure economic development

SOURCE: (NAN)