The Commercial Bank of Ethiopia (CBE) is stepping up efforts to support Ethiopian diaspora members in the United States who are seeking to invest in projects back home, offering tailored banking services to make financing more accessible.

Senior executives from CBE met with representatives from the Ethio American Chamber of Commerce and a high-level business delegation linked to the Grand Ethiopian Renaissance Dam, discussing opportunities for diaspora-led investments and the bank’s role in funding both private ventures and major national development projects.

Elias Woldu, president of the chamber and leader of the delegation, highlighted the importance of close collaboration with CBE and praised the bank’s range of financial services available to Ethiopians living abroad.

The bank emphasised the scale of the diaspora’s economic contributions to Ethiopia. Official data show that Ethiopian communities in the United States sent over six billion US dollars in remittances during the 2023/24 fiscal year, supporting families, businesses, and the country’s foreign exchange reserves. CBE aims to leverage this financial inflow by offering investment channels that allow diaspora members to participate in both small and large-scale projects, including strategic initiatives such as the Renaissance Dam.

Efrem Mekuria, CBE vice president for corporate and business services, said the bank has historically financed government development programmes and is now expanding its focus to include private-sector projects led by diaspora investors. Officials added that CBE plans continued engagement with Ethiopian communities in the United States and Europe, while preparing new financial products tailored to diaspora investment needs.