The National Bank of Ethiopia is setting aside 100 billion birr to back loans aimed at members of the diaspora looking to make investments in Ethiopia.
Governor Mamo Mihretu unveiled the scheme during a launch ceremony for a remittance application (Debo) at the Skylight Hotel today.
“There’s no reason for the diaspora to wire remittances through informal hawala channels. Our banks are offering better rates than the black market. Our remittance channel is also faster and more secure,” he said.
Members of the diaspora who are interested in the NBE credit scheme can access loans through any of the country’s 31 commercial banks, according to the Governor.
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