Development Bank of Ethiopia to Offer Loan to Small, Medium Enterprises

The Development Bank of Ethiopia (DBE) has confirmed its readiness to offer loan to Small and Medium Enterprises (MSME), according to Ethiopian News Agency (ENA).

DBE has carried out a structural reengineering to extend loan to Small and Medium Enterprises in the GTP II period, President of DBE Esayas Bahre told ENA.

Esayas said special attention will be extended to manufacturing industries since the country is embarking on transforming its development policy from agriculture-led economy to industry-led economy.

He noted that reengineering of the organizational structure would help DBE to offer additional financing leasing services to MSME. Therefore, the Bank would open 175 new branches to cater small and medium enterprises.

The Bank has been financing projects as it plans to increase its leasing capacity by 20 percent.

DBE has granted $1.8 billion loan to projects in the GTP I period and plans to raise the amount to $5.3 billion in the GTP II period.

This post first appeared HERE

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.