BY TAMERU REGASA
ADDIS ABABA-The Development Bank of Ethiopia (DBE) announced that it has planned to provide 10 billion Birr Credit for Small and Medium Enterprises (SMEs) in the current Ethiopian fiscal year.
DBE President Yohannes Ayalew (Ph.D) told the Ethiopian Press Agency (EPA) that the bank has been supporting business enterprises through organizing them in share companies.
As to him, apart from providing financial supports for enterprises, the bank is providing short and long term business trainings to enhance the knowledge and skill of business enterprises.
He said the bank has provided trainings in three phases, adding that, it gave training opportunities to over 28,000 people in its third phase training schedule.
“So far, the bank has been registering a successful result in relieving the bankrupted companies and enabled over 300 companies to relief from bankruptcy. Among the bankrupted companies four of them were companies that had over 6 billion Birr capital,” he said.
Currently, all of the companies that have been found at a risk and could not continue production are now producing with maximum potentials where four anchor companies have finalized paying their debt.
Accordingly, the bank continues working widely in providing agricultural technologies to mechanize the country’s agricultural sector particularly in supporting cluster farming.
The Ethiopian Herald 10 August 2022
