Development Bank of Ethiopia (DBE) is among the state-owned financial institutions involved in giving short, medium, and long-term loans for investment projects in government priority areas like commercial agriculture, agro-processing, manufacturing industries, mining & extractive industries, export and financing leases for Small and Medium Enterprises (SME). With 70% of its population below 30 years, Ethiopia has an immense capacity for innovation to nudge its development to the next level. Several innovators are looking for financial support to expand and boost their operations.
The Ethiopian government aims to achieve a GDP growth of 11-15% and reach a middle-class income status by 2025. There need to be major innovative solutions to increase Ethiopia’s economy. This is why the Development Bank of Ethiopia wants to support creative minds to help them achieve success. DBE has set up a development research unit to provide major policy plans and present capacity and market conditions for each region in Ethiopia. A business model & independent unit is set up to monitor the 19 billion birr loan for this budget year.
The country’s investment mission and needs are included in the business model. DBE aims to provide young innovators with an excellent opportunity to involve themselves in investment. This loan is an excellent opportunity for entrepreneurs with exceptionally innovative ideas looking for funding.