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The Eritrean Investment and Development Bank (EIDB) is a bank in 
The Eritrean Investment and Development Bank is the smallest of Eritrean government-owned banks. It typically finances development projects by funneling funds from various other organizations, including the
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 ...
. It was established on 28 October 1996. It did not effectively begin operations until 1998 from its single office in 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 ...
, Eritrea. The bank was fully financed by the Ministry of Finance, and thus the financial institution is a property of the Eritrean government.
The Eritrean Investment and Development Bank is the smallest of Eritrean government-owned banks. It typically finances development projects by funneling funds from various other organizations, including the Bank of Eritrea
The Bank of Eritrea is the central bank of Eritrea. The bank is located in Asmara, the capital. The central bank is interested in encouraging foreign investment and in importing capital goods such as industrial machinery and agricultural equipm ...
and the World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...
.
See also
*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 sit ...
References