Africa-Press – Ethiopia. A delegation led by Lt. Gen. Tadesse Worede, the president of the Tigray Interim Administration, held talks with senior officials of the Commercial Bank of Ethiopia (CBE) on cooperation aimed at revitalizing economic activity in the region, the bank said.
In a statement shared on its official Facebook page, CBE said the discussions focused on strengthening collaboration with the Interim Administration, with particular emphasis on support for the investment and construction sectors in Tigray.
During the meeting, President Tadesse called on the bank to expand its financial support to the two sectors, describing them as critical to economic recovery and job creation in the post-war region. He said the Interim Administration would work to create an enabling platform that allows the Tigray business community to engage more closely with the bank.
Vice President of the Interim Administration, Amanuel Assefa, said more than 60,000 housing seekers are currently organized in associations across the region, underscoring what he described as significant demand in the construction sector.
CBE Vice President for Executive Services, Ephrem Mekuria, said the bank has been supporting the investment sector in Tigray and would continue its engagement, according to the statement. The bank also said it would work closely with the Interim Administration to address issues raised during the talks.
The meeting comes amid mounting pressure from Tigray’s business community as an 18-month loan grace period approaches its end and new tax obligations under the revised Income Tax Proclamation No. 1395/2017 take effect.
Earlier this week, at a forum on bank loans and taxation, business representatives warned that accumulated interest payments, penalties, and strict enforcement measures could result in asset seizures and widespread business closures in the war-affected region. Participants said the business community has received limited attention from relevant authorities despite its fragile post-war condition.
The Tigray Interim Administration has acknowledged these concerns, saying it plans to engage the federal government to prevent the auctioning of properties owned by entrepreneurs unable to service loans accrued during and after the war and to seek temporary flexibility on loan recovery and tax enforcement. AS
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