Addis Ababa, Ethiopia (01 March 2023)
The Ethiopian Ministry of Innovation and Technology, in collaboration with the Development Bank of Ethiopia, the United Nations Development Program, and the Korean International Cooperation Agency, has announced a national call for access to the Credit Risk Guarantee Fund (CRGF).
The call aims to increase the availability of direct financing for innovative SMEs and start-ups with feasible business ideas in sectors/activities that are in line with the Home-Grown Economic Reform Agendas. Companies with innovative business solutions that are ICT based are eligible to apply, as the program seeks to support businesses that can adapt innovative technologies to drive growth and contribute to the modernization of the Ethiopian economy.
The selection process will include three rounds of screening, with technical and financial evaluations conducted by expert committees and financial institutions. Applicants must hold Ethiopian citizenship, and their proposals should demonstrate industrial and environmental adaptability and scalability, economic, market, and societal impact. Additionally, the applicant must provide physical collateral amounting to a minimum of 50% since the Credit Risk Guarantee Fund is partial.
The application process opened on 30th February 2023 and closes on 30th March 2023. Interested applicants should visit this link to submit their proposals. For further inquiries, please call +251 967 944 500 12 or +251 993 530 103
Source: MInT
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