Ethiopia Launches $276 Million Business Financing ProjectDecember 27, 2017 - Secured from the World Bank Group (WBG) and the European Investment Bank (EIB), the $276 million is set to be channeled to competent entrepreneurs engaged in the construction, mining, textile, agro-processing, tourism and the like. A lease financing project targeting some 3000 entrepreneurs operating Small and Medium Enterprises (SMEs) engaged in manufacturing industries is set to provide USD 276 million. The lease financing project is providing the said amount of money for direct machinery purchases and leasing purposes via the Development Bank of Ethiopia (DBE). The balance will also be set aside for soft and technical skills development and other components. The five years project targets to graduate close to 3000 beneficiaries to large scale manufacturing businesses.

Source: Ethiopian News December 27, 2017 19:30 UTC