Central Bank Disburses $100m to Private Banks

Jun 1 , 2019

The National Bank of Ethiopia disbursed 100 million dollars in foreign currency to the 16 private commercial banks. The allocation, which took into consideration their capital positions, was done to ease the shortage of forex for their clients. Among the banks, Dashen Bank has received 15.1 million dollars, while Berhan, Debub Global and Zemen banks have received 12.6 million, one million and four million dollars, respectively. “It shows that a new approach is coming to grips with the banking sector,” said Addisu Haba, president of the Ethiopian Bankers Association and president of Debub Global Bank. For a lasting solution to the problem, a solution based on studies and research should be taken, Addisu adds.



A painting depicts traditional farming equipment at the Science Museum around the Arat Kilo area. Since the seizing of power by the current administration, large-scale architectural projects marked by grandeur have proliferated across the capital. The satellite city being built in the Yeka mountains, which is set to cost around 600 billion Br, according to the Prime Minister, is one such project yet to see the light of day. Some estimates put the plot size for the project at around 503hct despit...



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