Addis Ababa, April 9 (NNN-ENA) The Development Bank of Ethiopia (DBE) says it has obtained a 25 million Euros loan from the European Investment Bank.

The DBE is providing a considerable loan service for foreign trade, manufacturing and agro-processing projects that have been given priority by the government.

The bank has collected 367.1 billion Birr (one USD = about 8.9 Birr) from the loan it provided for the establishment and expansion of various development projects during the past half budget year.

DBE President Wondwossen teshome told the Ethiopian News Agency Saturday that the bank had set aside about 600 million Birr to be given as loans for investors engaged in foreign trade, manufacturing and agro-processing projects.

Based on the development strategy put in place by the government, the bank has been providing a considerable sum as loans for investors engaged in these sectors, he added.

The loans had been given to investors engaged in the agriculture sector, particularly in flower cultivation, live animal exports, meat processing, vegetables and fruits, incense and natural gum production.

Investors engaged in agriculture and industry sectors are enabling the country to obtain hard currency by supplying products to the foreign market, he said.

He urged investors to use the opportunity to be engaged in development works by establishing and expanding small and medium scale development projects.