Ethiopia: DBE Extended 7.5 Billion Birr Loan
Development Bank of Ethiopia (DBE) disclosed it has extended a total of 7.5 billion Birr loan in the 11 months of the just concluded fiscal year. Nonetheless, the target was to extend 9.4 billion Birr.
Ethiopia: DBE Gets New President
Hailemariam Desallegn, Prime Minister of Ethiopia, has appointed Getahun Nana as the new president to Development Bank of Ethiopia (DBE).
Ethiopia: DBE Ordered to Amend Loan Policy
Investment Board, presided by the Prime Minister, ordered Development Bank of Ethiopia (DBE) to modify its lending policy in favor of foreign horticulture investors. From now on the bank, as per the board’s decision, will exempt foreign horticulture investors from the 50 percent deposit requirement other foreign investors have to fulfill.
Ethiopia: DBE President Dismissed
The long serving president of Development Bank of Ethiopia (DBE), Esayas Bahre, is dismissed from his post effective of November 18, 2016.
Ethiopia: DBE Quits Low Interest Loan Scheme
Development Bank of Ethiopia (DBE) called off its low interest rate loan. The loan scheme was given for exporters and investors engaged in import substitution. Even if most banks in Ethiopia give loans at a rate of 12 percent, DBE’s low interest rate loan was served with 9 and 8 percent.
