Development Bank plans to start financing art works

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The Development Bank of Ethiopia (DBE) announced on Monday that it has a plan to finance feasible art works.

The ideas include art and creative works, according to Yohannis Ayalew (PhD), President of DBE.

Previously, there was no mechanism to finance such works due to the points such as what sort of collaterals artistic works can offer to get financial provision from the state policy bank.

“We would offer a financial provision for such projects if the ideas are original one’s and having a patent right to be changed into business,” Yohannis said in a presser on Monday.

Meanwhile, DBE has approved a loan of 14 billion Birr in the current Ethiopian fiscal year.

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