The Development bank of Ethiopia approved 5.1 billion birr in loans to a range of investment projects in the last eight 
months of the Ethiopian Financial year.
The amount of money loaned by the bank is 2.8 billion birr more than the credit offered during the same period last year according to Tadesse Hatiya, Vice President for Credit Services with the bank. The bank expects to loan a total of 5.4 billion birr in this fiscal year.
The DBE aims to assist and enhance the development activities that are being undertaken around the country by offering technical as well as financial assistance in line with the developmental policies put in place by the government said Tadesse.Loan requests for investment projects in the export sector and others that can effect import substitution and transfer of technology were given a priority amongst the range of loan requests received explained Tadesse.
Investment projects approved for loans include agro processing, cotton plantation, agriculture, cobble quarrying and textile industries he said.
The sectors are significant due to various reasons including their potential to create job opportunities for a large number of people, to generate foreign currency and to help meet developmental aims said Tadesse.
The bank has disbursed 2.6 billion birr of the loans approved while 1.1 billion birr of the expected 1.7 billion birr has been repaid back to the bank in the eight month reporting period noted Tadesse.
Source: Ethiopia Press Agency
