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Commercial Bank of Ethiopia eyes mortgage loan to boost forex reserves

Commercial Bank of Ethiopia has been implementing various mechanisms and offering specialized services including Diaspora mortgage loan to enhance the role and contribution of the Diaspora in the economy. By Bilal Derso (The Ethiopian Herald) ADDIS ABABA (The Ethiopian Herald) –The newly launched Diaspora Mortgage Loan will help securing sizable foreign currency from Ethiopians living […]

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Ethiopia, World Bank sign $100mln financing for Ethiopia’s Resilient Landscapes and Livelihoods Project (RLLP) support

In 2018 alone, the Bank has provided a total of US$ 3.1 billion financial supports (in the form of loan, donations, etc.) to Ethiopia, including the new RLLP support ADDIS ABABA (Semonegna.com)–Ethiopia and the World Bank signed US$ 100 million financing agreement aimed to support Ethiopia’s Resilient Landscapes and Livelihoods Project (RLLP). The loan agreement was […]

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Dashen Bank gross profit grew by 8.3 percent

Dashen Bank HQPhoto : SM borkena December 5,2018 Dashen Bank has amassed over 1.14 billion birr gross profit in the past financial year which is an increase of 8.3 percent. The growth on the profit before tax has stood at 8.3 percent compared with a year ago. Despite political instability and shortage of hard currency […]

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African Development Bank Group approves US$123 million grant for Ethiopia’s Basic Services Transformation Program

The Basic Services Transformation Program Supplementary Financing was developed jointly by the African Development Fund and the Government of Ethiopia, in close consultation with key development partners supporting basic service delivery ABIDJAN (AfDB)― The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank (AfDB) Group, has approved […]

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Berhan Bank raised its paid-up capital to Birr 1.7 billion in FY 2017/18, a 20 percent increase

ADDIS ABABA (Berhan Bank S.C.)–Berhan Bank has conducted its 9th Ordinary Annual Shareholders’ Assembly on 10th November 2018 at the Millennium Hall in Addis Ababa. The Bank’s Board Chairman, Ato Gumachew Kussie  disclosed that the Bank has ended the year 2017/18 heralding glorious results in major areas of its operations proving to be one of the […]

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Commercial Bank of Ethiopia headquarters sets new engineering momentum in Ethiopia

CBE headquarters has so far hosted more than 5,000 visits from actors in Ethiopia’s construction sectors as well as various other professionals, according to figures from CSCEC (Xinhua)―Ethiopia’s Chinese-built landmark stature, which is already regarded as the tallest structure in East Africa, has set a new engineering momentum in Ethiopia’ s construction industry. On Sunday, […]

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Commercial Bank of Ethiopia utilizes ACI Worldwide’s UP Retail Payments solution to modernize its payments infrastructure

NAPLES, FL – ACI Worldwide, a leading global provider of real-time electronic payment and banking solutions, has announced that Commercial Bank of Ethiopia (CBE), the country’s largest commercial bank, is utilizing ACI’s UP Retail Payments solution to modernize its payments infrastructure. CBE is at the forefront of Ethiopia’s move toward becoming a cashless economy. As it undertakes […]

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Technical and Vocational Education and Training (TVET) Institutes in Ethiopia get much-needed support from the World Bank

The regional initiative EASTRIP will promote school industry collaboration to transform the TVET institutes and support industry recognized short-term training. WASHINGTON, DC (The World Bank)–The World Bank today approved a $293 million International Development Association (IDA)* credit and grant to increase access to and quality of Technical and Vocational Education and Training (TVET) Institutes and […]

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Ethiopia getting US$1.2 billion from World Bank

borkena October 31,2018 The World Bank is to make US $1.2 billion available to Ethiopia; Reuters reported today citing the World Banks’s website. Based on the report, US $600 is in the form of loan while the remaining portion is a grant. The funds are to help reforms in the financial sector and support private- […]

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World Bank approved $1.2Bn policy operation grant/credit in support Government of Ethiopia’s economic reform

The policy operation will promote public-private partnerships which will not only improve efficiency in key sectors (e.g. telecom, power and trade logistics), but also mobilize private financing which will enable Ethiopia to maximize the resources available for development financing. WASHINGTON, D.C. (World Bank)–The World Bank’s Board of Executive Directors today approved $1.2 billion ($600 million […]

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