GOLDEN VALLEY, Minn. – A Minnesota-based humanitarian organization has joined with partners from Somalia to launch the first commercial microfinance institution in Somalia.
Said Sheik-Abdi, Partnerships Officer at American Refugee Committee, came by KARE Saturday to talk about the needs on the ground and the role that an entity like this will play in helping to rebuild lives.
American Refugee Committee is working to help families in Somalia reconstruct their lives through small business loans. Sheik-Abdi explained that the goal of American Refugee Committee is to provide financial access and stimulate economic development throughout the Somali territories—where unemployment rates exceed 65 percent.
Loans will enable entrepreneurs to start and expand small businesses, such as fishing, carpentry, tailoring, and small retail shop management.
To learn more about American Refugee Committee or to make a donation, visit www.ARCrelief.org.