Ethiopia bags 30 million euro-loan to boost women entrepreneurs

Ethiopia’s Finance Minister Ahmed Shide . Photo: The National

Addis Ababa, Ethiopia (ADV) – Ethiopia is at the threshold of receiving a 30-million-Euros concessional loan from the European Investment Bank (EIB), to support the country’s Women Entrepreneurship Development Program.

The agreement was signed on Thursday in Addis Ababa.

Ethiopia’s Finance Minister Ahmed Shide signed on behalf of his country while EIB President Werner Hoyer signed for the institution at a brief ceremony in Addis.

EIB President Hoyer explained that the loan will raise the incomes of female-run micro and small enterprises by providing more women entrepreneurs access to loans.

He noted that empowering women is instrumental in improving women’s productivity, economic growth and social cohesion and justice.

For his part, Finance Minister Ahmed Shide acknowledged the importance of the loan to enhance access to female-owned small and micro enterprises.

He said the grant will support women entrepreneurs by providing training in manufacture sector and providing training in professional life skills, he added.

Ahmed revealed that public infrastructures, access to finance to small and micro enterprises, and mobile banking are among the areas of engagment between Ethiopia and EIB.

The agreement is among several such developments that the EIB was undertaking in the country and intended to give an economic boost to Ethiopia frequently considered as a shiny example in loan management from lending institutions.

© Bur-csa – N.W / From our regional correspondent Tamba Jean-Matthew III – African Daily Voice (ADV) – Follow us on Twitter : @ADVinfo_eng