Ethiopia: BII and FMO unveil $40m commitment to boost farming exports

Development finance institutions British International Investment (BII) and FMO have announced their joint commitments of up to $20 million each to Dashen Bank, one of Ethiopia’s largest private sector banks. The loan will help to drive agricultural exports and provide access to much-needed foreign exchange within Ethiopia.

BII and FMO are supporting Dashen Bank to help bolster the country’s agricultural sector. By providing much needed capital for the expansion of growing businesses, the development finance-backed facility enables Dashen to offer USD-denominated loans to cover the costs of importing machinery – supporting farmers towards increased productivity in areas such as harvesting, logistics, and processing and boosting exports earnings.

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