Petroleum suppliers are the latest to be exempted from the loan freezing imposed since August 2021.
The exemption has been made after the Ethiopian Petroleum Supply Enterprise notified the officials of the National Bank of Ethiopia that the freezing is impacting the oil supply.
While it does not apply to petroleum dealers, more than two dozens of oil suppliers, including NOC, Oil Libya and TotalEnergies, are expected to benefit from the exemption, which became effective as of October 27, 2021.
Earlier this month, NBE has issued exemptions for buyers of bank’s foreclosed properties, inter-bank loan buyout transactions, bank staff emergency & housing loans and sesame producers in Gondar.