Currencies:
RUB/USD 0,0111
0,0001
BRL/USD 0,1924
0,0016
INR/USD 0,1199
0,0001
CNY/USD 0,1377
0,0002
ZAR/USD 0,5348
0,0094
Weather:
Moscow 25 °C
Brazilia
New Delhi
Beijing
Pretoria
Cairo
Tehran
Abu Dhabi
Menu
Home
News
Videos
Podcasts
Menu
Иконка с часами 14 minutes 2 sec.
Ambassador of Ethiopia to Russia Uriat Cham Ugala/ “Joining BRICS is a growth opportunity for Ethiopia”
Иконка с часами 20 minutes 11 sec.
Douw Vermaak/ «Relations between Russia and South Africa are getting stronger»
Иконка с часами 8 minutes 22 sec.
Anthony Phiri, Harare Institute of Technology/"The world needs to work together to reduce greenhouse gas emissions"
27.05.2416:16 Sport
TV BRICS International Media Network to support development of BRICS Marathon League
23.05.2411:18 Economics
TV BRICS to bring together media managers from BRICS+ countries at International IT Forum in Russia
17.05.2413:30 Society
TV BRICS International Media Network is presented in Xiamen, China
Эфиопия
15.05.24 08:31
Society

Development Bank of Ethiopia directs over US$520 million to industrial development

The state-owned financial institution provides low-interest loans to businesses

The Development Bank of Ethiopia (DBE) has allocated 30 billion Birr (US$522 million) in the last 9 months to modernise the manufacturing sector. This is reported by ENA.

DBE President Yohanes Ayalew participated in a panel discussion on “Private Investment and enabling Conditions” at the Made in Ethiopia exhibition held in Addis Ababa. During his speech, he explained that the bank helps businesses in the industry by providing low interest loans. Although DBE has incurred heavy losses in the past, the actions of the country's government have helped offset them.

In the past nine months, DBE has approved loans totalling 44 billion Birr ($766 million), 30 billion of which is earmarked for industrial development. According to the president of the financial institution, lending such amounts is an indicator of economic growth.

The Development Bank of Ethiopia (DBE) is a specialised public development financial institution controlled by the Ethiopian Public Finance Enterprises Agency.

Photo: iStock
Short
and to the point
Once a week we will cover news in the BRICS countries
By clicking on the "Subscribe" button, you agree to the processing of personal data

MORE ON THE TOPIC

30.05.2417:12 Society
Russia and India to talk about trade and creating multipolar world at the St. Petersburg Business Forum
30.05.2415:35 Society
India supports Bolivia's aspirations to join BRICS
30.05.2412:56 Society
Presidents of China holds talks with Egyptian president
30.05.2411:45 Society
More than 400 dinosaur footprints are found in China
30.05.2409:05 Society
Iranian scientists receive awards for achievements in physics, mathematics and best patent
29.05.2413:30 Society
Voting for parliamentary elections begins in South Africa
Short
and to the point
Once a week we will cover news in the BRICS countries
By clicking on the "Subscribe" button, you agree to the processing of personal data