ADDIS ABABA – Commercial Bank of Ethiopia (CBE) on Thursday said it has readied more than 100 billion birr in loan days after the National Bank lifted suspension of collateralised loans.
The regulatory bank imposed the temporary ban suspension in mid-August as measure due to “economic sabotage”. The ban then fully lifted on Nov 28, 2021.
The lifting of the ban is expected to have a significant impact on the country’s economic activities, said Muluneh Lemma, Deputy head of the loan department of the Bank, told Ethiopian News Agency.
To that effect, he said the CBE has availed more than 100 billion birr to be loaned for private sector, agricultural inputs and public enterprises this year.
Of the total amount, 25 percent is allocated for private sector while allotting 30 percent for agricultural input.
The remaining 45 percent will be loaned to public enterprises, according to Muluneh.