Eritrean Investment and Development Bank
Encyclopedia
The Eritrean Investment and Development Bank was established on 1996-10-28. The Bank did not effectively begin operations until 1998 from its single office in Asmara
. The Bank was fully financed by the Ministry of Finance and thus is a fully state-owned bank. This is the smallest of the state-owned banks in Eritrea and typically funds development projects by funneling funds from various other organizations included the Bank of Eritrea
and the World Bank
.
Asmara
Asmara is the capital city and largest settlement in Eritrea, home to a population of around 579,000 people...
. The Bank was fully financed by the Ministry of Finance and thus is a fully state-owned bank. This is the smallest of the state-owned banks in Eritrea and typically funds development projects by funneling funds from various other organizations included the Bank of Eritrea
Bank of Eritrea
The Bank of Eritrea is the central bank of Eritrea. The bank is located in Asmara, the capital. The central bank is interested in encouraging foreign investment and in importing capital goods such as industrial machinery and agricultural equipment...
and the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
.