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Bank of Teachers’ Association to help ease the economic problems of teachers

Ethiopia Bank of Teachers’ Association
(From Ethiopian Teacher’s Association SM page)

By Staff Reporter

ADDIS ABABA – (BORKENA) – There is a plan to establish a “Bank of Teachers’ Association”, which is said to help ease the economic problems of teachers, sources said.

Minister of Education, Birhanu Nega (professor) said at a speech he made at the 3rd annual gathering of the Ethiopian Teachers Association held in Jigjiga recently that studies and preparatory works have been started to make the establishment of the bank a reality with the help of the government, Wazema reported. Discussion on the issue will be conducted along with members of the executive body of the Association, the news source, Wazema quoted Minister of education Birhanu Nega (professor) as saying.  

The Minister raised concerns about compensating the demands on salary adjustment and improvement of cost of living raised by the teachers’ Association, which has more than 700,000 members at the national level. In this regard though efforts are being made to provide plots of land in all regions for constructions of houses for teachers, the payment teachers are getting is not sufficient let alone to build residential houses but to satisfy their daily necessities, Birhanu said. 

The bank that is said to be established will reportedly provide and support loans to  the teachers so that they can build houses on the site provided for them.

Although the government has supported the establishment of the bank, mainly the plan is to enable teachers to own it by holding shares. Apart from establishing the bank at national level, some regional teachers associations have plans to establish credit and savings associations, according to the news source.

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