Regulatory Alerts2021-04-25
Added · Updated
Capital Goods Finance Operational Modality (Amendment) Directive No. CGFB/11/2021
The National Bank of Ethiopia amends the Capital Goods Finance Operational Modality Directives by adding Article 3.5, which requires periodic lease installment payments to be set in writing with a detailed schedule in Ethiopian Birr. Article 4.1 is replaced to mandate that companies establish internal policies addressing capital goods financing needs for the manufacturing sector and Small and Medium Enterprises, including the allocation of specific portfolio percentages. Article 6.2 is updated to allow foreign companies to borrow from foreign sources in accordance with External Loan and Supplier's Credit Directives No. FXD/47/2017 and its amendments. These changes enter into force on June 15, 2021.
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