DBE Takes Part in Agricultural Mechanization Leasing Forum

March 31, 2022, Addis Ababa

Development Bank of Ethiopia /DBE/ has participated in a stakeholders’ consultative forum of agricultural leasing project on March 31, 2022 at Radisson Blue Hotel.

Dr. Yohannes Ayalew (Ph.D), President of DBE at the forum reminded that Agricultural Machinery Leasing Project is funded by the German Ministry for Economic Cooperation and Development via KFW and the project is executed by DBE in coordination with the Ministry of Agriculture. Yohannes further indicated that the Ethiopian government recognizes the pivotal role agricultural mechanization plays in creating jobs, bringing economic and social development by modernizing agricultural practices. The President of DBE also thanked the German government and KFW for their setting up the project and choosing DBE as a partner in implementing agricultural mechanization leasing project, and he also appreciated the Ministry of Agriculture for its technical and advisory support as well.

Head of Development Cooperation-German Embassy, Ms. Laura Schmidt on her part stated the purpose of AMLP which is funded by the German Ministry of Economic Cooperation and Development via KFW Bank which expedites the import of long lasting and adequate agricultural machines and implements. She also indicated that the project is catalyzing growth in Ethiopia’s agriculture sector by providing financial and technical assistance to DBE, qualified suppliers of agricultural mechanization equipment and the lessees.

Officials from Ethiopian Ministry of Agriculture, KFW and GFA consulting group have participated in the forum and discussed on how to ensure sustainable financial access and technical support to DBE which is mandated to give leasing service.

The AMLP stakeholders’ committee is expected to enhance knowledge and awareness among key stakeholders on how leasing can play an important role as innovative financial product to finance agricultural mechanization, Ms. Laura added.