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Geda Bank to provide advice to farmers who have been compensated for development

Geda Bank, which will start operations in 2014, said during its founding conference in Addis Ababa today that it will provide advice to farmers who have been compensated for development.

A member of the bank’s organizing committee, Hamdino Midekso, told Ethio FM that the bank has more than 27,000 founding shareholders and will start operating in 2014.

He said the bank has a registered capital of 1.37 billion birr and a paid up capital of 550 million birr.

According to Hamdino, there is a gap in the proper use of compensation for most of the farmers who are being raised for development.

Geda Bank will have at least 15 branches when it starts operating.