Ethiopian Development Bank, KFW Agree to Strengthen Their Cooperation

Addis Ababa, October 18/2024 (ENA)  Ethiopian Development Bank and KFW, a Garman based world’s leading promotional banks, have agreed to strengthen cooperation in various financial spheres.

In the early hours of this Morning, the newly appointed President of the Ethiopian Development, Emebet Melese conferred with Head of Division for East Africa at the German Ministry for Economic Cooperation and Development, Marcus von Essen.

The two sides discussed ways of financial support from KFW and collaboration between the banks.

The performance of two ongoing projects implemented by the Ethiopian Development Bank, previously financed by KFW was reviewed during the discussion.

These projects are providing leasing services for machinery used to develop the agricultural sector, as well as facilitating the provision of finance through microfinance institutions and banks to support small and medium enterprises.

In addition to the projects that have currently become operational, the two officials also discussed the future prospects to further consolidate the cooperation, said Ethiopian Development Bank in a social media post.