Development Bank of Ethiopia (DBE) announced it has extended a 4 Billion Birr loan to mega projects in the past nine months of the current fiscal year, according to the Ethiopian News Agency.

Out of this 4 Billion Birr loan, Business Promotion and Communication General Manager of DBE, Birhanu Taye said 2.2 Billion Birr has been reimbursed.

Birhanu further noted his bank has been rendering services from giving long and medium term loans up to consulting in order to succeed in agriculture, industry, infrastructure and social development works.

In addition to this DBE has been selling the Great Ethiopian Renaissance Dam (GRED) bond. It has thus far sold 900 Million Birr bond.

Birhanu also said saving culture of the public has improved and it is making the execution of mega-projects feasible.

Source: Ethiopian News Agency