Central Bank undertaking reforms to support manufacturing industry: Governor

Addis Ababa, May 8, 2023 (FBC) – The National Bank of Ethiopia (NBE) has announced reforms aimed to financially support the manufacturing industry sector.

A panel discussion is being held under the theme “Access to Finance for the Manufacturing Industry Sector” in attendance of Governor of the National Bank Ethiopia Mamo Mihretu, President of Development Bank of Ethiopia, Yohannes Ayaleu (PhD), Ministers, investors and other stakeholders.

The panel discussion is focused on identifying bottlenecks in the financial sector and exploring possible solutions to the problems.

Governor of the National Bank, Mamo Mehretu, addressing the meeting, said that various reform activities are being carried out to support the manufacturing industry.

Mamo indicated that the central bank has been undertaking a wide range of activities to create a stable macroeconomic and market system, adjust the foreign exchange system and ensuring wellbeing of the financial sector.

President of the Development Bank of Ethiopia, Yohannes Ayaleu (Dr.) said that the bank has given due attention to the manufacturing industry and the agriculture sector.

He also stated that new departments have been established to provide adequate and efficient financial services to the sector, including providing loans at low interest rates.