The Development Bank has announced its support for agro-processors in the Yirgalem Integrated Agricultural Industry Park. At an investment consultation forum held in Addis Ababa, attended by H.E. Mr. Melaku Alebel and the Sidama regional President H.E. Desta Ledamo, current and prospective investors discussed their needs and challenges.
The forum, organized by the Sidama Industrial Parks Corporation in collaboration with the Ministry of Industry and the United Nations Industrial Development Organization (UNIDO), highlighted the demand for efficient credit facilities for developers in industrial parks. Investors also raised concerns about foreign exchange, infrastructure, and bureaucratic hurdles.
Dr. Yohanes Ayalew, President of the Development Bank, assured attendees that the bank is committed to supporting investors in agriculture and other sectors, with a particular focus on those in the agro-processing sector within industrial parks. He emphasized efforts to streamline loan services and reduce bureaucratic obstacles.
Minister of Industry, Minister H.E Mr, Melaku Alebel, responded to investors’ concerns by announcing the formation of a committee to address issues faced by developers in the Sidama region. He also confirmed that appropriate monitoring would be implemented to resolve problems and meet investors’ needs.
Additionally, Muluneh Lema, Vice President of the Commercial Bank of Ethiopia, stated that the bank is prepared to provide credit services to manufacturing sector investors in the Sidama region, in accordance with National Bank guidelines.
It was highlighted that the Yirgalem Integrated Agro Industrial Park boasts complete infrastructure, offering significant benefits to investors who choose to develop there.
The forum concluded with the recognition of key partners who contributed to the park’s success. Among those honored was UNIDO, acknowledged by the region’s president as a significant contributor to the development of the Yirgalem Integrated Agro-Industrial Park.