Policy Bank to Auction off Three Farms

October 31 , 2020


Policy Bank to Auction off Three Farms

The Development Bank of Ethiopia has put up the collateralised properties of Tagy Rose Integrated Farm, Tericordia Integrated Farm and Walga Agro-Industry for auction. The properties are located in Gambella Regional State in the southwestern part of the country. The Regional State, with vast amounts of fertile land and a lightly populated area, has been in the midst of massive controversial loans that have gone unpaid. The Bank intends to sell the buildings, vehicles, farm machinery, and the developed lands of the three farms. Located in Agnuwa Zone, Tagy Rose Integrated Farm and Tericordia Integrated Farm control 1,500ha and 2,071ha of land, respectively. The 110-year-old Bank has put the sale of Tagy and Tericordia at a floor price of 24.9 million Br and 33.4 million Br, respectively. Walga Agro-Industry Plc, which is located in Majang Zone and has 1,381ha of land, is expected to be sold at a floor price of 10.8 million Birr.


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