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Ethiopian Commodity Exchange proposes loans for small farmers
By Muluken Yewondwossen
A proposal of a scheme that entitles the Ethiopian Commodity Exchange (ECX) to facilitate inventory financed loans to small level farmers and suppliers has been devised.
Warehouse receipts will be used for loan guarantees in the proposal that is to be tabled to the board of directors. The idea is for the scheme to encourage those engaged in the grain exchange and other stakeholders who couldn’t access loans from financial institutions.
Eleni Zaude Gabre-Madhin (PhD), Chief Executive Officer (CEO) of ECX told Capital the loans will be for small level parties in the system that are unable to present collateral, or do not have access to acquire a loan from financial institutions.
“The board will discus how ECX will be able to work with the lower stakeholders at the grassroots level. Discussions will also be held on the strategy to increase the quality and quantity of grain and pulse production to boost the exchange market system,” said Dr. Eleni.
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