Capital Ethiopia Newspaper

DBE to sell 50 birr bond

The Development Bank of Ethiopia (DBE) said it has prepared 50 birr bond with a view to enabling citizens buy bonds for the construction of the Grand Renaissance Dam. While signing franchise agreement with seven financial institutions, DBE president Esayas Bahire said Commercial Bank of Ethiopia has been selling bonds via its 500 branches. He said the bank has reduced the price of a bond from 500 birr to 50 birr in view of enhancing the participation of the rural community. According to him, the bank is striving to solicit 50 percent of the finance used for the construction of the dam.
(The Ethiopian Herald)