Dashen Bank, one of Ethiopia's largest banks, has received a USD 40 million loan from the British International Investment (BII) and the Dutch Entrepreneurial Development Bank (FMO). The loan will help Dashen Bank strengthen its export lending capabilities and support agricultural product exporters by facilitating the purchase of new machinery.
This is the first time that BII and FMO have offered a long-term foreign currency loan to an Ethiopian financial institution. The loan is in line with the new foreign exchange facilitation guidelines set by the National Bank of Ethiopia in 2021.
Dashen Bank CEO Asfaw Alemu said that the loan would help to stimulate the market and attract more resources from international investors. He expressed his gratitude to BII and FMO for their support.
Dashen Bank has a customer base of over 5 million and operates through more than 80 branches across Ethiopia.
Source: Fana BC