Bole Medhanealem,
In front of Kebe Cake Rehobot Apartment Building 1st Floor
Addis Ababa, Ethiopia
P.O.Box 25378/1000
The entry of foreign banks with immense capital is a catalyst to the success of the second Homegrown Economic Reform (HGER) that aims to enhance economic dynamism, experts in the area said.
Costantinos Berhutesfa (PhD) stated that transformation in the financial architecture would have an indispensable role in the success of homegrown economic reform. To this happen, the government is expected to shorten the entry of foreign banks into Ethiopia’s market.
The expert further highlighted that the entire capital of both the state-owned Commercial Bank of Ethiopia and private banks is not sufficient to finance one hydroelectric dam. This situation necessities the flow of finance from other sources.
So far, Ethiopia has secured a tremendous amount of aid in the margin of five billion USD from Western countries as well Chinese loans and grants. Nonetheless, this cannot continue, and now is the time to pay the debts.
Referance:Ethiopian Herdel(March 30/2023)
Share This News