The Development Bank of Ethiopia (DBE) announced that it was ready to launch the fourth round of the National Training Program of Small and Medium Scale Enterprises. The bank registered 435 thousand applicants for the training while its target was to train 50 thousand individuals.
The Development Bank of Ethiopia (DBE) has reduced its bad loans from 57 percent to 6.5 percent, following reforms implemented over the past five years. In the most recent Ethiopian fiscal year, the bank extended loans worth Birr 32 billion and recorded a profit of Birr 5.5 billion.
Development Bank of Ethiopia (DBE) said that it would not be financing any government sector in the 2022/2023 fiscal year. The bank will avail Birr 30 billion for approval and Birr 24 billion for disbursement that will be allocated to private investments which are involved in agriculture and industry and small and medium enterprises.
Development Bank of Ethiopia said its Non-Performing Loan (NPL) ratio during the past fiscal year was 40 percent. In the 2013/14 fiscal year, the ratio was only 9.9 percent. According to Haileyesus Bekelle, president of the bank, the rise of the NPL ratio is attributable to the ineffectiveness of rain dependent commercial farming projects. In addition to the commercial farming projects ineffectiveness, the president said, the rise is also attributable to hard currency shortage, inadequate power supply, unrests that occurred in some parts of the country over the past few years and ineffectiveness of mega projects financed by the bank.
Development Bank of Ethiopia (DBE) announced selling of Grand Renaissance Dam bonds worth 1.4 billion Ethiopian birr in the concluded Ethiopian Fiscal Year.
Development Bank of Ethiopia President, Isaias Bahire, told Walta Information Center that preparations are underway to involve farmers and pastoralists across the nation in the purchase of bonds in the current fiscal year.
