Ethiopian banks have reportedly contributed 615 million birr to the development of the corridor in Welega. The corridor development project will be implemented in Nekemte city of East Welega.
Ethiopian Bankers Association has confirmed that 31 banks have contributed to the building of corridor in Welega Oromia.
The money has been transferred to the commercial bank account under the name of “Welga Corridor Development” .The banks pledged this money in a meeting with the Ministry of Finance around a month ago. The Prime Minister of Ethiopia Abiy Ahmed initiated the idea of contribution from bank for corridor project.
Banking sector is one of the profitable sectors of the Ethiopian economy.
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