Whereas, the National Bank of Ethiopia is vested by its establishment proclamation no. 591/2008 and Investment Proclamation no. 1180/2020 to regulate foreign exchange and having determined the procedures of registration for external loans, which is essentially set as a criterion for regulating foreign exchange;
Whereas, an investor who acquires an external loan shall also be obliged to register such a loan with the National Bank of Ethiopia in accordance with the directives of the National Bank of Ethiopia;
Now, therefore, in accordance with Articles 20 and 27(2) of the National Bank of Ethiopia Establishment (as amended) proclamation No. 591/2008 and Article 21(1 and 2) of Investment Proclamation no. 1180/2020, these directives are hereby issued as follows:
