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.
According to the Bank’s Corporate Communication and Promotion Director, Haile Kassu (Dr.), the loan was given for 235 projects engaged in agro-processing, leather, textile, metals, engineering, pharmaceuticals, chemical and construction.
75 percent of the loan was given to local investors while the rest was for foreign investors, Hailu explained.
Commenting on collection of debt, the Director explained the Bank planned to collect 5.2 billion Birr loan it previously distributed, yet it only managed to collect 3.7 billion Birr during the 11 months period.
For the coming fiscal year DBE intends to provide more than 18 billion Birr loan for industrial projects.
Source: Fana Broadcasting Corporate
No comments:
Post a Comment