The Development Bank of Ethiopia (DBE) has allocated 30 billion Birr (US$122 million) in the last 9 months to modernise the manufacturing sector. DBE President Yohanes Ayalew participated in a panel discussion on “Private Investment and enabling Conditions” at the Made in Ethiopia exhibition held in Addis Ababa. During his speech, he explained that the bank helps businesses in the industry by providing low interest loans. In the past nine months, DBE has approved loans totalling 44 billion Birr ($766 million), 30 billion of which is earmarked for industrial development. The Development Bank of Ethiopia (DBE) is a specialised public development financial institution controlled by the Ethiopian Public Finance Enterprises Agency.

Source: Ethiopian News May 15, 2024 05:37 UTC