The Commercial Bank of Ethiopia has introduced a new agricultural loan service intended to improve access to credit for farmers and pastoralists.

The loan facility allows farmers, both individually and in organized groups, to obtain financing for agricultural inputs, equipment, and machinery. The service also extends to pastoralists, enabling access to inputs related to livestock production.

According to the bank, the loan service is available through its branches, allowing farmers and pastoralists to apply at locations nearest to them.

The introduction of the loan service forms part of ongoing efforts to expand agricultural finance and improve financial access in rural areas. Such initiatives are aimed at supporting agricultural production and productivity within the existing policy framework.

The bank stated that the service is expected to assist farmers and pastoralists in meeting their production needs by providing access to formal credit.

Source: Ethiopian News Agency