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Development Bank of Ethiopia Commits Birr 20.4 Billion for SMEs

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During the current Ethiopian fiscal year, the Development Bank of Ethiopia (DBE) has committed to offering loans exceeding Birr 20.4 billion Birr to small and medium-sized enterprises (SMEs). DBE has been actively involved in supporting SMEs by providing both financial assistance and training, recognizing the sector's potential to contribute to the national economy.

To date, the bank has already disbursed Birr 20 billion in loans to SMEs that have met the necessary criteria. The bank has also trained a total of 133,000 enterprise operators in four rounds. It intends to provide training to as many as 75% of the 320,000 enterprise operators currently awaiting the opportunity.

The bank has devised a plan to provide loans amounting to Birr 20.4 billion to enterprises that adhere to the bank's policies and submit comprehensive business plans during this Ethiopian fiscal year.

Those who have received training and are seeking credit services are required to submit their market feasibility ideas to the bank. The bank will assist them in commencing their businesses by offering the necessary loans.

Source: Ethiopian News Agency