Zemen Bank and European Investment Bank (EIB) Global signed agreement to mobilize 40 million Euro during the EU – Ethiopia Business Forum to finance agricultural enterprises in the country.
Under the agreement, EIB Global is providing a credit line of 20 million Euro to Zemen Bank and Zemen Bank will match the sum in local currency. This is the first direct loan to a commercial bank extended by EIB Global in Ethiopia.
The deal involves on lending by Zemen Bank to Ethiopian small and medium-sized enterprises (SMEs) licensed to operate in the country and export primarily in the agriculture sector. There will be a 30 percent focus on businesses that promote climate action and environmental sustainability. Gender is also a feature of the initiative, with at least 30 percent of the overall funding to be directed towards SMEs that are owned or led by women or provide employment, products and services for women.
The agreement is signed on April 20, 2026 during the European Union and Ethiopia Business Forum by Ato Asrat Tadesse, Zemen Bank’s CEO delegate and Chief Retail Banking Officer and Mrs. Leyla Traore, Head of European Investment Bank Representation to Ethiopia and AU in the presence of Mr. Jozef Sikela, European Commissioner for International Partnerships.
