The recently rebranded Oromia Bank and Oromia Water and Energy Resource Development Bureau signed a Memorandum of Understanding (MoU) to work on collection of payments.
The agreement has been signed by Woldie Bulto, Vice President of Oromia Bank and Million Bekele (Engineer), Head of Oromia Water and Energy Resource Development Bureau.
The agreement will enable the Bank to collect bill payments, which have so far being collected by the bureau. Additionally, the bank will provide digital banking and other full-fledged banking services to bureau’s customers and staffs.
This fresh agreement contains a unique feature of offering a loan to Bureau’s staffs for constructing residential homes and purchasing vehicles.
The loan will be repaid back in 25 years with an interest rate of 7 percent.