Ethiopia’s Development Bank Announces Significant Interest Rate Cut

Ethiopia – The Development Bank of Ethiopia has announced a substantial reduction in interest rates for agricultural sector loans. This move, which lowers the interest rate from 11.7% to 7%, is targeted at small to medium-scale projects and corporate initiatives in agriculture.

According to Africa News Agency, Announced via the bank’s official social media, this decision by the 113-year-old state-owned institution reflects a strategic shift to stimulate investment in Ethiopia’s agricultural sector. The bank, known for its project-based lending approach, aims to invigorate the agricultural landscape with this interest rate adjustment.