Dashen finances new region, inks MOU with Gambella admin

Dashen Bank, one of the biggest and oldest private banks, donates five million birr for the newly established South West Ethiopia region. According to Asfaw Alemu, President of Dashen, his bank provided its contribution to support the developmental projects of the new region.

“Beyond contributing to expand access to finance in the region, we want to be allies with the people of the region in terms of contribution for developmental activities,” Asfaw said at the handing over ceremony held in Bonga, capital of South West Ethiopia region.

In related developments, Dashen Bank inked a memorandum of understanding (MOU) with Gambella regional administration.

As per the bank’s disclosure, it will work to boost business activities in the region as well as support community based projects.

As per the cooperation, Dashen will provide 25 million birr to micro finance institution (MFI) in Gambella and the MFI will disburse the finance for micro and small enterprises at minimal interest rates. Besides that, it has been stated that the agreement will allow for positive outcomes on the effort that the regional government is working on, in particular, agriculture, housing developments and other economic and social services in the region.

At the signing ceremony held at Gambella city last week, Dashen promised to pledge one million birr to support 100 university students who came from the Gambella region.

At the signing ceremony, Mulugeta Alebachew, Chief Strategy and Innovation Officer at Dashen, said that the bank will accelerate its support to heighten the effort of the regional administration, which works to improve regional development.