The Development Bank of Ethiopia (DBE) allocated Birr 4 billion to support novice inventors. The bank announced that it might increase the current budget if it received a wide range of applications.

The bank will cover the costs of entrepreneurs who submit innovative proposals after confirming the proposed idea is original. Until now, DBE has given instructions to applicants who came with ideas for the agriculture sector to undertake and submit feasibility studies. According to Yohannes Ayalew, President of DBE, creating favorable environment to enable the private sector to participate in the digital economy is also one of the focus areas of Digital Ethiopia 2025 Strategy.

Source: Fana BC