A Memorandum of Understanding (MoU) has been signed to make more than 41,000 government employees homeowners
The Addis Ababa Housing Development and Administration Bureau and the Commercial Bank of Ethiopia (CBOE) have signed an agreement to make more than 41,000 government employees homeowners today.
As stated during the agreement, teachers will be given priority because they are the first to be organized.
During the agreement signing, the Head of the Housing Development and Administration Bureau, Ms. Qande Wolde Giorgis, stated that the city administration has previously built and delivered several houses to make homeless government employees homeowners. She said that this program will be completed in 20 years by allowing the government employee to save 25 percent and the bank to provide a 75 percent loan.
The head of the city administration expressed her gratitude on behalf of the city administration for the loans being facilitated by the Commercial Bank of Ethiopia in the efforts to develop the city and make it a smart city through various housing options.
The signing ceremony was attended by leaders of the Addis Ababa Housing Development and Administration Bureau, Commercial Bank of Ethiopia, Addis Ababa City Administration Education Bureau, and the Addis Ababa Teachers Association, and other invited parties, and they gave a press conference to various media outlets on the matter.
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