Tag: WB

The World Bank recommended the Ethiopian government stop offering preferential treatment to ethio-telecom, downplaying attempts to preserve the status quo of the state dominated sector.

After making a bold decision to privatize state-owned enterprises, the government is drawing fierce criticism with the latest one coming from the former president of the Addis Ababa Chamber of Commerce and Sectoral Association, Kebour Ghenna.  

The International Finance Corporation (IFC), best known as the private sector arm of the World Bank Group, has inked agreements to guarantee Ethiopia’s global trade, mostly involving import bills.

After shunning repeated call from the International Monetary Fund (IMF) and the World Bank Group (WBG) to limit commercial borrowing, and feeling the pressure of the accumulated external debt of Ethiopia, the Ministry of Finance and Economic Cooperation (MoFEC) has decided to strictly avoid non-concessional loans from foreign creditors for an unspecified period of time, The Reporter has learnt.

Pledges to uphold social, environmental safeguards intact Introducing a five-year Country Partnership Framework (CPF) where the World Bank Group aligns its development financing activities with the country’s strategies, it announced that active projects worth USD 13 billion are currently operational in Ethiopia.