The Development Bank of Ethiopia (DBE) aims to recover 11 billion birr from projects halted in Tigray and four billion birr in Gambella regions. DBE classified Tigray loans as non-performing after losing contact with investors for two years due to the northern Ethiopian conflict. Excluding Tigray loans, DBE’s NPL stand at eight billion birr or eleven percent, half owed by Gambella commercial farms that received billions in financing. We have camps, irrigation pumps, tractors, equipment and manpower at the commercial farms in Gambella,” Yohannes told The Reporter. “We have put aside provision for the Gambella loans, so that the NPL will not affect our balance sheet.”

Source: Ethiopian News August 05, 2023 06:53 UTC