2merkato

Development Bank of Ethiopia (DBE) announced it has extended a 4 Billion Birr loan to mega projects in the past nine months of the current fiscal year, according to the Ethiopian News Agency.

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.

Hailemariam Desallegn, Prime Minister of Ethiopia, has appointed Getahun Nana as the new president to Development Bank of Ethiopia (DBE).

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.

The long serving president of Development Bank of Ethiopia (DBE), Esayas Bahre, is dismissed from his post effective of November 18, 2016.