Addis Ababa, Ethiopia Today) June 30 2023:- National Bank of Ethiopia Joins Hands with International Finance Corporation (IFC), the private sector arm of the World Bank Group, In a bid to strengthen credit access and infrastructure.
The Central Bank of Ethiopia announced the partnership Yesterday adding the aim is to enhance access to finance for underserved segments of the Ethiopian population.
The NBE and IFC agreement seeks to modernize Ethiopia’s credit information ecosystem, paving the way for data-driven digital lending solutions.
This transformation will enable better access to credit for MSMEs and actors in the agri-value chain, who have historically faced limited opportunities.
By monitoring credit industry performance, providing supervision and risk monitoring, and promoting financial stability, the NBE and IFC collaboration aims to create an environment conducive to financial inclusivity.
Ethiopia is currently implementing reforms to bolster its credit information system, with a particular focus on empowering micro, small, and medium-sized enterprises (MSMEs) as well as actors within the agri-value chain.
