2merkato

The Development Bank of Ethiopia (DBE) announced it has amended its credit policy, Fana Broadcasting Corporate (FBC) reported.

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.

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.

The Development Bank of Ethiopia (DBoE) said it has distributed 3 billion birr loan during the past eight months of the Ethiopian Fiscal Year.

President of the bank, Isaias Bahre, told WIC the loan was disbursed among financial institutions, cooperative association and unions as well as other clients.

Development Bank of Ethiopia (DBE) disclosed it has extended over 5.5 Billion Birr for 350 projects in the just ended fiscal year.