German bank invests 300 million Euro in Ethiopia – New Business Ethiopia


German bank invests 300 million Euro in Ethiopia



KfW Development Bank of Germany has invested over 300 million Euro in Ethiopia over the past years supporting vocational education.

The international bank owned by the Government of Germany has been supporting vocational education institutions in Ethiopia for about two decades,according to Jeannine Elektra Setzer-Rubruck KfW Development Bank Senior Project Manager Vocational Education in Ethiopia.

In the coming year its also aims to engage in the private sector development as well as overall industrialization plan of the country.

“We work on behalf of the German Federal Government in Ethiopia. We have a big portfolio in Ethiopia around 300 million Euro, which is fully a grant. We have several running projects in Ethiopia. Current volume of our investment is around 100 million Euro,” Jeannine Elektra told NewBusinessEthiopia.com in Addis Ababa.

She stated that about a week ago, KfW has donated 30 tractors, which will be used to help vocational students in Ethiopia to boost agricultural productivity.

“KfW invests a lot in equipment. We are supporting the technical and vocational educations training (TVET) schools in Ethiopia. At the moment we are supporting 70 TVET schools in Ethiopia and a TVET schools teachers’ training institute in Addis Ababa…Next year we also aim to support refugees in Ethiopia living close to TVETs,” she said.

She noted that agricultural, automotive and biomedical equipment are among the supports KfW has been providing to TVET schools in Ethiopia.
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