National Bank of Ethiopia to avail ETB15 billion for private commercial banks in order to enable them extend loan repayment period of their customers, which are facing challenges because of the spread of coronavirus throughout the world.
Announcing the new decision today, Prime Minister Abiy Ahmed (PhD) said the central bank is also instructed to raise the transaction limit on mobile banking transactions in a bid to reduce cash-based transactions.
His administration also temporarily waived tariffs on imported products that are necessary to fight COVID-19. Commercial banks are also expected to give priority to businesses that are importing such items while availing foreign currencies.
Ethiopia confirmed 16 coronavirus as of now, an increase by four since yesterday.