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Abay Bank Joins Seat Booking Race for 'Dine for Nation'

Oct 1 , 2020

Abay Bank, one of the youngest private banks, has joined Dashen and Awash banks in the Dine for Nation event, buying a ticket for 10 million Br to attend the gala dinner that will be hosted to raise funds for the rehabilitation of three tourist destination sites.

So far, Awash and Dashen banks have committed 30 million Br each to buy tickets for Dine for Nation, which costs 10 million Br and five million Birr a plate for VVIPs and VIPs, respectively. The dinner will raise funds for rehabilitating tourist sites located at Gorogora in Amhara Regional State; Wonchi in Oromia Regional State; and Koisha in Southern Nations, Nationalities & People's Regional State. A total of six billion Birr is required for the projects, and half of the value is expected to be raised from the fundraising dinner.

Abay Bank, which is celebrating its 10th anniversary, also bought a five-million-Birr bond for the construction of the Grand Ethiopian Renaissance Dam (GERD). It donated five million Birr for the Children's Cardiac Centre of Ethiopia, the Amhara Heritage Preserve & Tourism Development Fund and the National Disaster Risk Management Commission (NDRMC).

Since starting operations a decade ago with 174.5 million Br in capital raised from 823 shareholders, Abay now has 3.4 billion Br in capital and 17.6 billion Br of deposits from its over one million customers.

Last year, Prime Minister Abiy Ahmed (PhD) hosted the gala dinner Dine for Sheger with the attendance of 200 people on the grounds of the Emperor Menelik II Palace to raise funds for the Sheger Beautification project. The fundraising gala dinner cost five million Birr a plate.

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