Diaspora Investment Financing
Coopbank offers an investment credit facility to enhance the potential of Diasporas to develop larger, more productive businesses investing in meaningful programs in their home country that can create jobs and economic growth back home.
Features
- Term loans for financing projects such as manufacturing or purchase of capital assets,
- The bank can finance up to 80% of the feasible project promoted by the diaspora,
- 20% of the project shall be financed by the promoter from his/her own equity,
- The equity contribution made to the project shall be transferred via Coopbank.
Benefits
- It helps to expand an existing business,
- It helps to engage in new investment in different sectors such as services, manufacturing, hotel, construction, real estate, etc.
- The amount of the loan is determined by the projected cash flow and income of the borrower as well as the cost of the project,
- It has an attractive rate with a reasonable repayment plan,
- Fast processing and approval time.
Requirement
Documents required to borrow for projects include documents such as:
- Investment Loan application forms that are properly filled and signed by the applicant,
- A valid passport and/or identification card,
- Investment license,
- TIN,
- Landholding certificate/lease agreement,
- An approved construction plan,
- Memorandum and Article of Association (if any), and
- Project proposal.
Eligibility
- Non-resident Ethiopian nationals living and working outside Ethiopia,
- Non-resident foreign nationals of Ethiopian origin,
- Companies owned by the above-mentioned non-residents and located outside the Ethiopian territory for more than one year,
Ethiopian nationals living and working abroad who can produce authenticated documents.