Ethiopian Government Tasks DBE to Assess Protest Damages

Ethiopian Government Tasks DBE to Assess Protest Damages

October 29, 2016 - The state owned financial institution Development Bank of Ethiopia (DBE) has formed a special unit to evaluate the extent of damage to the properties destroyed during the unrest which occurred a few weeks ago, mainly in the Oromia and Amhara Regions.

According to Behailu Kassaye (PhD), public relations head of DBE, his bank has formed a special unit made up of experts from various fields to undertake the evaluation.

He said that this unit is evaluating the damage including the companies that DBE has stake with after a request by Ethiopian Investment Commission.

Behailu told Capital that the government has asked DBE to study damage to companies not connected with the bank as well because the agency has experience in this line of work. DBE supported companies, who worked with the bank, when they were burnt or destroyed in another period of unrest that occurred a few months ago.

He further said that it is too early to disclose the rate of the damage or the action that would be taken after the evaluation.

“There are different stakeholders involved including other government bodies like the Ethiopian Investment Commission and security forces. They will have input on the final decision,” the public relations head explained.

Sources said that the government will decide the amount of compensation based on the evaluation team’s report.

President Mulatu Teshome (PhD), who recently visited some damaged companies’ facilities at Sebeta, on the western outskirts of Addis Ababa, said that the government will support the companies affected by the unrest.

DBE is the development ally of major projects in Ethiopia; it provides finance for local and foreign companies to expand their business in the country. Its support mainly focuses on manufacturing, agriculture and selected service sectors.

Farms, hotels and factories were attacked during the latest unrest in different parts of Oromia. The number of the affected companies and the amount of damage has not been disclosed.

Source: Capital