The Development Bank of Ethiopia announced that it has planned to loan 14 bln birr in this budget year.
Bank’s Strategic Change and Communication Director, Kifle Haileyesus told WMC that the bank approved the loaning of 14 blb birr for projects and lease financings.
According to him, the loan the bank planned to avail this year is up by 14.03 percent compared to that of last budget year.
The bank will avail loan to projects and enterprise, which it believes will accelerate the country’s social and economic transformation, Kifle added.
He also said that the bank has intent of supporting small and medium industries by loaning 4.2 bln birr, which could be spend for the purchase of machineries.
This year, he said the bank planned to collect 5.6 blb birr from debtors and increase the banks loaning capacity to 40.8 percent.
According to him, the bank has been providing a loan of 1.5mln- 30 mln birr for small businesses.
Last budget year, the bank earned a net profit of 323 mln birr before tax and privatization.