Ethiopian National Bank Distributes $100mn in Forex for Private Banks

The National Bank of Ethiopia (NBE) announced that it has distributed $100 million to 16 private commercial banks.

The distribution, NBE noted, has been in consideration of their capitals. This is an effort declaration hoping to ease the shortage in foreign currency.

Part of the effort has been a new system implemented during the past two weeks, which the banks welcomed and appreciated, it has been reported.

Source: Fana BC

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