Eastern Africa

The European Investment Bank’s international development arm, EIB Global, is committing €110 million to help farmers in Ethiopia improve productivity, expand their businesses and cope with climate change. The Development Bank of Ethiopia (DBE)will channel the EIB Global credit line to local institutions that lend to agricultural enterprises in rural areas, with 50% earmarked for women and 20% targeting climate adaptation.

Agricultural businesses in Ethiopia will be eligible for as much as €40 million in financing as a result of an agreement between the European Investment Bank Group’s development arm, EIB Global, and domestic lender, Zemen Bank SC. Under the accord, EIB Global is providing a credit line of €20 million to Zemen Bank, which will in turn match the sum. This is the first direct loan to a commercial bank extended by EIB Global in Ethiopia.

In Äthiopien ist heute das Programm für ein grüneres Finanzsystem (GFS-Programm) offiziell an den Start gegangen, auf den Weg gebracht von äthiopischen und internationalen Partnern auf dem Ethiopia Finance Forum.