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Ethiopia : ETHIOPIA: DBE to extend 14.56 Billion Birr as loan

August 20, 2014

Development Bank of Ethiopia (DBE) has made an announcement on its strategy to offer loan of 14.56 Billion Birr to support projects in agro and manufacturing sectors.

The money will be extended to new as well as existing players carrying out expansion ventures.

The newly announced figure is up 7.16 Billion Birr from the bank s offering of funds in the last financial year.

The bank has also planned to extend 12.02 Billion Birr as loan, which were sanctioned previously.

On the selling of bond for the Great Renaissance Dam, the performance of Development Bank of Ethiopia during the just ended fiscal year has been below the level of its performance in the 2012/2013 fiscal year. The bank netted 1.07 Billion Birr from bonds in the 2013/2014 fiscal year, a decline of 330 Million Birr from the previous financial year.

Reports suggest that the overall amount of bond bought for the Great Renaissance Dam touched the figure of 7.1 Billion Birr.

DBE s offering of loans earlier across 346 projects have facilitated jobs for 22,446 people.

The bank has also revealed its plan to generate 775.2 Birr income in this financial year.

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Source: TendersInfo (India)

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