Economy

Ethiopia’s Youth Investment Bank Eyes Launch This Year, Targets Funding 100+ Startups

AI SUMMARY

Ethiopia’s Youth Entrepreneurship Investment Bank is expected to launch operations this year to fund over 100 innovative startups and MSMEs.

The Youth Entrepreneurship Investment Bank (YEIB) is expected to begin operations this year, targeting over 100 innovative startups and MSMEs.
The Ministry of Labour and Skills (MoLS) confirmed that preparations are underway to meet National Bank of Ethiopia (NBE) regulatory requirements.
The initiative operates under the African Development Bank (AfDB)-supported Agri-MSMEs Development for Jobs (AMD4J) project.
AfDB funding will be released once the bank completes its licensing and certification processes.
The implementing entity for the YEIB component was transferred from the Development Bank of Ethiopia (DBE) to Ethiopian Investment Holdings (EIH).
The broader AMD4J initiative is backed by a USD 42.86 million grant approved by the African Development Fund in May 2024.
YEIB plans to support technology-driven, innovative business ideas across all sectors without prioritizing specific sub-sectors.
The bank will initially be headquartered in Addis Ababa before expanding into regional states.
The wider AMD4J program aims to support 8,000 MSMEs across the country over its lifetime.