The Development Bank of Ethiopia (DBE) is working to develop the mining sector by providing more than Birr 1.4 billion to more than 110 customers engaged in the mining sector.

As part of its ongoing efforts, the DBE recently delivered 15 loader machines, acquired for Birr 44 million, to mining clients. These machines are intended for mining and construction purposes, providing essential resources to support the mining activities.

In addition to their involvement in mining, the bank is also engaged in importing diverse agricultural machinery,which is then made available to customers to facilitate the modernization of agriculture—a sector that serves as the backbone of the economy.

DBE has turned around its fortunes in recent years, thanks to a series of reform measures that have helped the bank overcome bankruptcy and become profitable.

In 2019/2020, the bank's capital stood at Birr 2.6 billion, and it was on the brink of collapse. However, currently, its lending capacity has increased, enabling it to provide loans of up to Birr 8 billion for a single project.

As a policy bank, the Ethiopian Development Bank aims to direct the country's resources towards productive sectors, particularly agriculture. The bank offers loans with a repayment period of up to 20 years and an interest rate of 11.5 percent. These terms are designed to encourage investment in these sectors.

Source: Fana BC and 2Merkato Archives