Development Bank of Ethiopia Forming Asset Management CompanyJuly 22, 2017 - The Development Bank of Ethiopia has finally got the go-ahead from the National Bank of Ethiopia to establish a company which will mainly deal with management of assets under its ownership, according to the Reporter. From this, the share of agriculture sector was 6.17 billion birr and manufacturing 21.35 billion birr. In addition, during the same fiscal year, DBE approved 11.84 billion birr and disbursed 6.33 billion birr for various projects. Having this the new company will deal with issues including asset management, tax and settle payments to third parties. The investors escaped from Ethiopia without paying one billion birr from loan, tax and payments from purchase of raw materials such as cotton.

Source: Ethiopian News July 22, 2017 11:15 UTC