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IFC guarantees Ethiopia’s import bills

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.

Ethiopia to avoid non-concessional loans

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.

WB backs Ethiopia with projects worth USD 13 bln

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. 

Operators propose changes to Modjo Dry Port

News facilities to be incorporated in Dry Port expansion project Upon the request made by the Ethiopian Maritime Affairs Authority (EMAA) to the Ethiopian Freight Forwarders and Shipping Agents’ Association to undertake a study that would provide insights into how to engage the private sector in the upcoming USD 150 million Modjo Dry Port and Terminal expansion project, the association has proposed a multipurpose common use facility to be constructed to ease the logistics conundrums Ethiopia faces at this time.

WB approves USD 600 mln for drought response scheme

The World Bank (WB) last week approved a USD 600 million International Development Association (IDA) grant to support the government of Ethiopia’s vision of building a national safety net system to provide effective support in chronically food insecure rural areas.