The Development Bank of Ethiopia (DBE) delivered modern vehicles to tour operating companies through a lease financing scheme last Thursday at the vicinity of MOENCO.
Considering the pertinent role that the tourism sector can play for the economy, DBE spent over 42 million birr to purchase 36 modern vehicles that can be used for tour operating companies.
“Even though, the tour operating sector is part of the service industry, the bank takes it as a prior agenda,” Teshome Alemayehu, DBE small & middle level enterprise financing vice president said during the occasion.
Previously, the bank was delivering lease financing privileges in fragmented ways that led to the delays in delivering the vehicles. DBE has solved the problem through the fund from the World Bank.
“Tour operating companies should use the vehicles for the intended purpose,” Mamitu Yilma, representative from Ministry of Culture & Tourism, said during the delivering ceremony.
The purchase is aiming to benefit 16 small and middle level tour operating enterprises, out of 26 vehicles delivered for 12 tour operator companies in the first round and the remaining ten vehicles will be delivered within months.
A minimum of two years engagement in the tour operating industry and contributing hard currency are the main criteria for DBE to give such privileges.
According to the bank, the criteria are believed to side line those actors who want to abuse the privilege.
Last Ethiopian fiscal year the country secured 3.5 billion USD from the 934,000 people who visited the country.