The Development Bank of Ethiopia (DBE) approves ETB 14 billion to train 32,000 Small and Medium Enterprise operators in 20 towns across Ethiopia. The five-day training is in partnership with the World Bank. It consists of the collateral-based loan disbursement and the wisdom of doing business to turn ideas into reality. DBE aims to support SMEs with several technical and financial packages to increase their access to loans. This is the first time DBE is financing business ideas.
The DBE is Ethiopia’s only policy bank and continuously supports industrial transformation. Ethiopia has untapped business startup opportunities hence why the government primarily focuses on manufacturers and manufacturing enterprises. DBE President Yohannes Ayalew (Ph.D.) mentioned that the bank is researching ways to create a feasible legal framework that will govern how loans are granted and administered.