Ethiopia: Enat, TDP to Back SMEs

Enat Bank, one of the youngest banks in Ethiopia, and the Trade & Development Bank (TDB) have reached an agreement to support export-oriented Small & Micro Enterprises run by women.

The TDB will give a guarantee fund to Enat and the loan guarantee fund will be disbursed for the entrepreneurs through an association like Ethiopian Women Exporters Association.

"The agreement is aimed at helping Enat Bank scale up its impact, share risk and reach more SMEs," says Admasu Tadesse, TDB president.

The agreement enables SMEs to gain advice and credit enhancement facilities, according to their agreement.

TDB launched the program in Zimbabwe in October and plans to expand the program to other member states, including Burundi and Kenya. Established in 1985, TDB, formerly the PTA Bank, is a multilateral, treaty-based development financial institution with assets of five billion dollars.

See What Everyone is Watching

More From: Addis Fortune

Don't Miss

AllAfrica publishes around 600 reports a day from more than 150 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.