The state owned Commercial Bank of Ethiopia (CBE) disclosed it has advanced, in the past three months, over 14.2 Billion Birr as loan for mega government projects and also the private sector.

Commenting on the development the Bank’s Communication Manager, Ephrem Mekuria, said CBE is supporting the nation’s success in agriculture, industry, infrastructure and social development. He furthered the achievement of the Bank is 97 percent of what it aimed for the three months period, which was 14.6 Billion Birr.

Majority of the 14.2 Billion Birr went to the housing development program, construction of the Great Ethiopian Renaissance Dam and construction of sugar factories.

Ephrem also explained the saving culture of the Ethiopian society has been improving in the past years and claims it is supporting the ongoing mega projects of the nation.

In addition to this, CBE is trying hard to make available electronic banking for the public and also expand the service.

The Bank currently has 8.7 million customers and it is planning to take this figure to 10 million By the end of this fiscal year, the manager noted.

According to Ethiopian News Agency, Commercial Bank of Ethiopia’s asset reached 192 Billion Birr by last September.

Source: Ethiopian News Agency