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Ethiopia: Bank Directors Push for Dam Bond With Depositors Guarantee



seberzena Newest Ethiopian Information Supplier
By Fasika Tadesse Addis Fortune (Addis Ababa) Leaders of the Affiliation of Ethiopian Financial institution Administrators are pushing for the concept of collectively financing the continuing development of Ethiopia’s signature mega dam venture. They’ve petitioned the Nationwide Financial institution of Ethiopia (NBE) to permit personal banks to make use of one % of their whole deposits to buy a bond for the development of the Nice Ethiopian Renaissance Dam (GERD). Filed on July 17, 2020, the Affiliation’s decision proposes 4.47 billion Br of the depositors assure collected from the entire 16 personal banks as of June 30, 2020. The acquisition of the
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