The Eastern and Southern Africa Trade and Development Bank also known as PTA is to extend USD 300 million funding for Commercial Bank of Ethiopia (CBE) and Ethiopian Airlines (Ethiopian).

Admassu Tadesse, President and chief Executive Officer of PTA in an exclusive interview with The Reporter said the Bank has approved USD 100 million for Ethiopian and USD 200 million for CBE. In 2013, the Bank has also extended USD 90 million for Ethiopian and USD 40 million Habesha Cement SC.

The CEO also stated the Bank is willing to work with private sector operators if they meet the loan approval criteria of the Bank.

He also stated PTA’s interest in working with sectors like power, agribusiness and tourism by and large focusing on hotel projects in Ethiopia.

PTA, the four-billion-dollar Bank, has some 20 countries as shareholders and is stretching into the eastern and southern Africa.

Source: The Reporter