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The financing is the ‘largest ever’ by EIB and it will be managed by the state bank, Development Bank of Ethiopia (DBE)

 

Addis Abeba, June 29/2017 – “Small business across Ethiopia will benefit from a new 6.4 billion Birr (247 million Euro) lending and leasing program to be managed by the Development Bank of Ethiopia announced in Addis Abeba earlier today”, according to a statement from the European Investment Bank (EIB). The new initiative, backed by the European Investment Bank and World Bank, “represents the first international support in the Ethiopian financial sector and the European Investment Bank’s largest ever engagement in Ethiopia”. The new initiative will back financing for local companies by Ethiopian microfinance institutions, commercial banks and leasing firms.