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More than 10 billion birr has been transferred to the beneficiaries of lease finance - Ethiopian Development Bank

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The Development Bank of Ethiopia announced that more than 10 billion Birr has been transferred to lease finance users in six months of the fiscal year.

The Development Bank of Ethiopia has provided lease financing services to its customers for 14 excavators engaged in the mining sector, 28 tour operator vehicles engaged in the tourism sector and 7 loaders for construction work.

Ethiopian Development Bank President Yohannes Ayaleu (Dr.); In his speech at the handover, he stated that the lease financing service is showing significant growth.

He also mentioned that his support for citizens engaged in tourism, construction and mining sectors is constantly growing.

Remember that four years ago it was 4.3 billion birr; He said that 10 billion birr has been given in six months this year.

He mentioned that lease financing through loans is also in a good condition. He said that the transferred machinery will be of great importance.

Recall that previously the bad loan rate was 36 percent; They said it has dropped to 1.6 percent, ESA reported.

He also explained that it was the result of the bank's discussions with various partners and by making the users understand the services provided.

Users have also expressed that the machines they have received will help them to do the work they are doing with enhanced capacity.