CBE collects 9bln Birr from housing program

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Addis Ababa, 1 September 2014 (WIC) - The Commercial Bank of Ethiopia (CBE) collected 9.2 billion birr from the housing development program in the last Ethiopian Fiscal Year.
According to the Chief Business Development Officer Yishaq Mengesha , the bank has achieved 96% of its goal set to collect money in the program.
Addis Ababa integrated housing development is a strategy for urban poverty reduction and sustainable socio economic transformation of citizens.
The 10/90-housing program is a project in which citizens’ cover 10 % of the total money they expect to save.
In 20/80 and 40/60 housing programs citizens are expected to save 20 %  and 40 %  respectively by themselves.
One of the beneficiaries of the housing program, Eyob Aseffa said: ‘We get dual advantages in saving for housing program. First we develop our saving tradition and secondly we will have our own houses’.
Over 960 citizens have been registered for the housing program.(ENA)