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Access to Finance
In efforts to address the significant challenge of access to finance for Micro, Small, and Medium Enterprises (MSMEs), EDI introduced an access to finance facility in July 2017. Through a strategic partnership with Enat Bank, EDI has facilitated one-to-one business counseling services for 44 women-owned enterprises. As part of this process, their business plans were meticulously reviewed and submitted to the bank for loan processing, without the requirement of collateral
Through strategic partnerships with the World Bank and other generous donors, we have successfully sourced and channeled a substantial amount of funds to support ambitious entrepreneurs. These funds have played a pivotal role in fueling entrepreneurial growth and fostering economic development.
As part of our ongoing commitment to fostering entrepreneurship, we have dedicated 100 million USD, specifically allocated for loan finance. This significant financial support is aimed at empowering countless startups to realize their dreams and contribute to the economy.
We have disbursed an impressive amount of 8.29 billion Ethiopian Birr to 23,962 women enterprise owners. This milestone achievement reflects our dedication to breaking barriers and fostering female entrepreneurship, empowering women to succeed in the business world.
Leveraging risk guarantee fund schemes, we have collaborated with Enat Bank to empower women entrepreneurs. Through this partnership, we have provided 34 million Ethiopian Birr in financial support. This initiative aims to enable women entrepreneurs to take charge of their futures and overcome financial obstacles.
Our commitment to nurturing the entrepreneurial spirit extends to the younger generation. By facilitating various innovation development programs, we have enabled over 112 youth startups to access grant seed capital totaling 28 million Ethiopian Birr. This investment in youth entrepreneurship ignites innovation and paves the way for a thriving entrepreneurial ecosystem.
In addition to these efforts, EDI has provided business counseling services, specifically focusing on access to and availability of finance, to 118 BDS clients. As a result, these clients have been able to secure a total of 56.9 million birr in finance from various financial institutions including Microfinance Institutions (MFIs), Commercial Banks, Saving and Credit Associations, Women’s Entrepreneurship Development Bureau (WEDB), and other relevant sources. Through our commitment to providing comprehensive Business Development Services (BDS) support, we strive to empower MSMEs with the necessary knowledge and guidance to
access the financial resources required for their growth and success.
To date, Enat Bank has successfully granted collateral-free loans totaling 5.3 million birr to 23 women-owned businesses, benefiting 27 women entrepreneurs. Out of the reviewed business plans, 24 have passed the initial screening by the Credit Committee of the Bank. However, 12 plans did not meet the technical appraisal criteria. Additionally, approximately
114 business plans, expertly developed and reviewed by EDI, are currently awaiting processing for potential loan disbursement
Disrupting the ordinary, and empowering the extraordinary