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Housing And Commerce Bank
The Housing and Commerce Bank (HCB) is a bank in Asmara, Eritrea. The company has focused on financing various apartment complexes throughout Eritrea, most notably in Asmara and Massawa. It has also extended loans to local companies involved in the Wefri Warsay Yika'alo. History The organisation was founded in 1994 after independence of Eritrea, under the name ''Housing Bank of Eritrea''. In the process it took over the previous Asmara branch of the Ethiopian Housing and Savings Bank, a savings bank set up with the assistance of Cassa di Risparmio delle Provincie Lombarde. HCB's original mission was to provide services to mitigate the acute housing shortage after the Eritrean War for Independence The Eritrean War of Independence was a war for independence which Eritrean independence fighters waged against successive Ethiopian governments from 1 September 1961 to 24 May 1991. Eritrea was an Italian colony from the 1880s until the d .... The firm's name was changed in 19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Asmara
Asmara ( ), or Asmera, is the capital and most populous city of Eritrea, in the country's Central Region. It sits at an elevation of , making it the sixth highest capital in the world by altitude and the second highest capital in Africa. The city is located at the tip of an escarpment that is both the northwestern edge of the Eritrean Highlands and the Great Rift Valley in neighbouring Ethiopia. In 2017, the city was declared as a UNESCO World Heritage Site for its well-preserved modernist architecture. The site of Asmera was first settled in 800 BC with a population ranging from 100 to 1,000. The city was then founded in the 12th century AD after four separate villages unified to live together peacefully after long periods of conflict. Under Italian rule the city of Asmara was made capital of Eritrea in the last years of the 19th century. History Giving the Pre-Axumite archaeological evidence found in Asmara around Sembel Called the Ona culture, Asmara's history go back to 8 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eritrea
Eritrea ( ; ti, ኤርትራ, Ertra, ; ar, إرتريا, ʾIritriyā), officially the State of Eritrea, is a country in the Horn of Africa region of Eastern Africa, with its capital and largest city at Asmara. It is bordered by Ethiopia in the south, Sudan in the west, and Djibouti in the southeast. The northeastern and eastern parts of Eritrea have an extensive coastline along the Red Sea. The nation has a total area of approximately , and includes the Dahlak Archipelago and several of the Hanish Islands. Human remains found in Eritrea have been dated to 1 million years old and anthropological research indicates that the area may contain significant records related to the evolution of humans. Contemporary Eritrea is a multi-ethnic country with nine recognised ethnic groups. Nine different languages are spoken by the nine recognised ethnic groups, the most widely spoken language being Tigrinya, the others being Tigre, Saho, Kunama, Nara, Afar, Beja, Bilen and Ar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Massawa
Massawa ( ; ti, ምጽዋዕ, məṣṣəwaʿ; gez, ምጽዋ; ar, مصوع; it, Massaua; pt, Maçuá) is a port city in the Northern Red Sea region of Eritrea, located on the Red Sea at the northern end of the Gulf of Zula beside the Dahlak Archipelago.Matt Phillips, Jean-Bernard Carillet, ''Lonely Planet Ethiopia and Eritrea'', (Lonely Planet: 2006), p.340. It has been a historically important port for many centuries. Massawa was the capital of the Italian Colony of Eritrea until the seat of the colonial government was moved to Asmara in 1897. Massawa has an average temperature of nearly , which is one of the highest experienced in the world, and is "one of the hottest marine coastal areas in the world." History Massawa was originally a small seaside village, lying in lands coextensive with the Kingdom of Axum—also known as Kingdom of Zula in antiquity—and overshadowed by the nearby port of Adulis about to the south. Massawa has been ruled or occupied by a successi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wefri Warsay Yika'alo
{{short description, Project that intended for development of Eritrea The Wefri Warsay Yika'alo (WWY) or Warsay Yika'alo Program of Eritrea is an ambitious project of post-war recovery. It is similar to other economic recovery programs and is often compared to the Marshall Plan. 1, 2, 3 The program is a series of sponsored investments managed by the Eritrean government in economic, education, health and transportation related infrastructure. These investments are typically made by a mixture of grants and loans from international organizations and from the Government of Eritrea. The transfer of skills is an important component of this program. Detractors of the program are concerned with the work schedule and conditions of the participants. Transportation infrastructure * Asmara-Ghinda-Massawa component of the Eritrean Railway (completed) * Asmara-Fil fbil-Massawa Highway (completed) * Asseb-Massawa Highway (under construction) * Keren-Barentu-Tessenei Highway (under construc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ethiopian Housing And Savings Bank
Ethiopians are the native inhabitants of Ethiopia, as well as the global diaspora of Ethiopia. Ethiopians constitute several component ethnic groups, many of which are closely related to ethnic groups in neighboring Eritrea and other parts of the Horn of Africa. The first documented use of the name "Ethiopia" from Greek name "Αἰθίοψ" (Ethiopian) was in the 4th century during the reign of Aksumite king Ezana. There were three ethnolinguistic groups in the Kingdom of Aksum; Semitic, Cushitic, and Nilo-Saharan (ancestors of the modern-day Kunama and Nara). The Kingdom of Aksum remained a geopolitically influential entity until the pillage of its capital — also named Axum — in the 10th century by Queen Gudit. Nevertheless, the core Aksumite civilization was preserved and continued into the successive Zagwe dynasty. By this time, new ethnic groups emerged – the Tigrayans and Amharas. During the Solomonic period, the latter established major political and cult ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cariplo
Cassa di Risparmio delle Provincie Lombarde known as Cariplo SpA, was an Italian bank. On 2 January 1998 the bank merged with Banco Ambrosiano Veneto to form Banca Intesa. The company became a short-lived sub-holding company in late 1990s, which was completely absorbed circa 2000. History The bank was formed on 12 June 1823 by the count Giovanni Pietro Porro, in Kingdom of Lombardy–Venetia, decades before the unification of Italy. Situated in industrialized Northern Italy, the Lombard firm had become one of the major bank in Italy. In 1926 the bank absorbed Cassa di Risparmio di Voghera and Cassa di Risparmio di Novara in 1928. In December 1991, due to Legge Amato, the bank, as società per azioni, and Fondazione Cariplo were formed to separate ownership, charity and daily banking operation. The bank also started its own expansion strategy 1990s, which acquired shares of the saving banks of Alessandria, Carrara and Spezia to form Carinord Holding SpA in 1995, (Ca.Ri." Nord" ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eritrean War For Independence
The Eritrean War of Independence was a war for independence which Eritrean independence fighters waged against successive Ethiopian governments from 1 September 1961 to 24 May 1991. Eritrea was an Italian colony from the 1880s until the defeat of the Italians by the Allies of World War II in 1941, Eritrea then briefly became a British protectorate until 1951. The General Assembly of the United Nations held a meeting about the fate of Eritrea, in which the majority of the delegates voted for the federation of Eritrea with Ethiopia, and Eritrea became a constituent state of the Federation of Ethiopia and Eritrea in 1952. The Federation was supposed to last for ten years in which Eritreans could have mini sovereign decisions such as a parliament and some autonomy, but under the Ethiopian crown for further ones. The Assembly also assigned commissioner Anzio Mattienzo to supervise the process. Eritreans were supposed to claim Eritrea as an independent sovereign state after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
People's Front For Democracy And Justice
The People's Front for Democracy and Justice ( ti, ህዝባዊ ግንባር ንደሞክራስን ፍትሕን, PFDJ) is the founding, ruling, and sole legal political party of the State of Eritrea. The successor to the left-wing nationalist Eritrean People's Liberation Front (EPLF), the PFDJ holds itself open to nationalists of any political affiliation. The leader of the PFDJ party and current President of Eritrea is Isaias Afwerki. It has been described as totalitarian. Creation The Eritrean People's Liberation Front (EPLF), later (from 1994) People's Front for Democracy and Justice, formed from the secessionist movement that successfully fought for the creation of an independent Eritrean nation out of the northernmost province of Ethiopia in 1993. The historical region of Eritrea had joined Ethiopia as an autonomous unit in 1952. The Eritrean Liberation Movement was founded in 1958 and was succeeded by the Eritrean Liberation Front (ELF) in 1961. The ELF grew in member ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Eritrea
Modern banking in Eritrea started with the arrival of the Italian colonizers. However, from 1974 on (due to the nationalization decided by the Ethiopian Government of Mengistu Haile Mariam), the banking sector became a government monopoly. This situation continued after Eritrea achieved its independence. The Bank of Eritrea is the central bank of Eritrea. At present there are three commercial banks in operation in Eritrea - The Commercial Bank, The Housing and Commercial Bank, and the Eritrean Investment and Development Bank. All banks with the exception of the Housing and Commercial Bank are under state ownership, while the Housing and Commercial Banks is owned by the ruling party, the PFDJ. History In 1914, the Italian government authorized the Banca d'Italia, the Italian central bank, to operate under special regime and therefore to carry out in the colonies operations not allowed in Italy, including commercial banking. Banca d'Italia then established its first two branches in A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Eritrea
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1994
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the anc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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