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  • Access to Capital
  • Access to Capital

Access to capital for Eritrean women entrepreneurs

Women entrepreneurs in Eritrea have limited access to finance. This is partly because of the limited number of financial institutions in the country and CSOs that provide credit. The major micro credit institution providing access to finance include: Saving and Microcredit Program (SMCP); National Union of Eritrean Women (NUEW); National Union of Eritrean Youth and Students (NUEYS); and National Union of Eritrean war disabled association. The Commercial Bank of Eritrea (CBE) and the Investment and Development Bank of Eritrea (IDBE) also provide loan to women owned business in Eritrea.

Access to capital in general and finance in particular is essential for start-up and growing businesses. Economic empowerment makes women independent and enhances their confidence in doing business. Thus, to start and grow their own business they need access to capital. 

angle-left Eritrean Development and Investment Bank (EDIB)

Eritrean Development and Investment Bank (EDIB)

Established on October 28/1996, Eritrean Development and Investment Bank (EDIB) plays its part in accelerating the country’s economic development through the provision of development finance to viable development-oriented projects. It also participates in equity investment.

EDIB also provides technical advice to its clients regarding project viability, establishment, management and financial record keeping.

FINANCIAL PRODUCTS

1. EDIB is accessible to both men and women. No financial products targeting exclusively women are available at the bank. The ceiling amount per project is 20% of the Bank’s capital.
2.    The current interest rate for loans provided is 9%.
3.    Collateral has to be presented by the borrower
4.    The installments are semi-annually ranging from 4-30 installments depending on the amount and term of the loan.

APPLICATION CRITERIA

Feasibility study, Title deeds, Business licenses, building construction permit, building bill of quantity, proforma invoice for machinery and equipment from three sources, memorandum and articles of association

CONTACT INFO

Eritrean Development and Investment Bank (EDIB) 
Bidho Street No. 29
P.O.Box 1266 Asmara
Tel: +291-1-126777 
Fax: +291-1-201976

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