Saturday, May 21, 2011

DBE issues 1b-Birr interest-free bonds to raise funds for Renaissance Dam

(21, May 2011, Addis Ababa)- Employees of the Ethiopian Management Institute on Friday contributed their one-month salaries amounting to over 439 thousand Birr for the execution of the Grand Ethiopian Renaissance Dam project.

In addition, the Institute pledged to buy government saving bonds worth 300 thousand free of interest.

The trade union with the Institute promised to purchase interest-free government saving bonds valued at 5 thousand Birr.

The Credit and Savings Association vowed to procure 50 thousand Birr worth saving bonds on interest-free basis.

Meanwhile, the Development Bank of Ethiopia (DBE) said it has issued interest-free government saving bonds valued at 1 billion Birr to raise funds for the Grand Renaissance Dam project.

According to DBE governor, Isayas Bahre, the bonds have already reached all DBE and CBE branches.
Source: Erta.gov. news

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