February 16/2015 M (IMI) Ministry of Industry has held a wide discussion with financial institutions to solve problems in the manufacturing industry.
In the discussion, lack of clarity regarding foreign balance and loan supply and issuance, coordination problems between financial institutions and manufacturing industries, absence of an independent body to check whether borrowers are eligible for loans, high quality of loan insurance and lack of sector, difficulty of criteria to meet for loan supply, interest evaluation and repayment time. Being short has risen to the challenge.
The discussions that have been presented indicate that the manufacturing industry is not being provided enough finance. The Minister of Industry for Development and Competitiveness, Mr. Tarekegn Bululta has said that in order to bring economic growth as a country and to withstand the external influence, the manufacturing industry should be supported by the necessary financial supply.
The minister of infrastructure and capacity building at the ministry office Mr. Hassan Mohammed has stated that there are some problems that are raised regarding the sector and suggested that problem solving should be developed and strengthening coordinated processes should be addressed.
In order to solve the problems that have been raised, financial institutions have participated in the Ethiopian national movement to create possible conditions in the manufacturing industry sector, by increasing the loans given to the manufacturing industry, by creating the necessary procedures transparency, by making amendments on issues that need to be made, by identifying and solving management problems together. The Ministry of Industry has called on the Ministry of Industry to give special attention and to make the Ethiopian miracle movement successful.