WorldBank Archives - Page 2 of 2

19 May

World Bank promises to support Ethiopia’s war affected Economy

ethionegari@gmail.com0 CommentsBusiness, NewsAddisAbaba, EthioNegari, Ethiopia, WBG, WorldBank

The World Bank Group (WBG) announced that, monitoring the situation throughout the entire country and continues to call for solutions that promote stability and long-lasting peace. Consistent with our strategy to remain engaged in situations of conflict and fragility and to support greater resilience of Ethiopia’s people, the World Bank Group (WBG) remains committed to continuing its partnership with Ethiopia for the benefit of all Ethiopians. Accordingly, the WBG is supporting Ethiopia to address its citizens’ demands for basic human services such as education, food security, health, clean water, livelihood support, women’s empowerment, and social and environmental protection across the country. Over…

16 May

Ethiopia’s foreign debt reaches $28 billion

ethionegari@gmail.com0 CommentsBusiness, News, PoliticsAddisAbaba, AfDB, China, Debt, EthioNegari, Ethiopia, Eurobond, IMF, US, WorldBank

Ethiopia's foreign debt reaches $28 billion. The Ministry of Finance has announced that, the amount of debt that Ethiopia borrowed from foreign lenders has reached 28 billion dollar. According to the minister's report, 54 percent of Ethiopia's foreign debt of 28 billion dollars was obtained from the World Bank and African Development Bank. 46 percent of total debt was obtained from China and other countries. Due to its high foreign debt, Ethiopia has been placed in the list of countries with high debt burden in the classification of international money credit institutions. On the other way,, three years ago, Ethiopia…

17 Apr

IMF confirms its financial support to Ethiopia

ethionegari@gmail.com0 CommentsBusiness, News, PoliticsAddisAbaba, EthioNegari, Ethiopia, IMF, WorldBank

Ethiopia's discussion with the international monetary fund (IMF) has ended. Ethiopia's financial envoy has concluded a week-long discussion with the heads of the World Bank and the International Monetary Fund (IMF) in Washington. Ethiopia's ambassador to the US, Seleshi Bekele, announced on his Twitter page that, the delegation led by Finance Minister Ahmed Shede and National Bank Governor Mamo Mehretu had concluded talks with the directors of the World Bank and the International Monetary Fund (IMF). The finance envoy mentioned that he had a consultation with the Director of the International Monetary Fund, Kristalina Georgieva and her delegation, and concluded…

21 Feb

Ethiopian Development Bank total capital grows to 36 billion birr

ethionegari@gmail.com1 CommentBusiness, NewsAddisAbaba, Developmentbank, Developmentbankofethiopia, EthioNegari, Ethiopia, SME, WorldBank

Ethiopian Development Bank total capital reachs to 36 billion birr. The bank has come out of the pressures of the last three years and is moving to do a better job and announced that the total capital of the bank has reached 36 billion birr. The bank announced this in its statement regarding the fourth round of training for operators of small and medium enterprises. According to the President of the Bank, Yohannes Ayalew, the bank, which has been in a steep decline in the past three years, is now moving in the right direction. The president said that three…

10 Sep

World Bank says Remains Committed to Partnership with Ethiopia

ethionegari@gmail.com0 CommentsNewsAddisAbaba, EthioNegari, Ethiopia, WorldBank

The World Bank Group says it will remain committed to continuing its partnership with Ethiopia for the benefit of all Ethiopians despite its concerns about the conflict in the northern part of the nation. The renewed conflict in northern Ethiopia broke out after a government-initiated five-month-long humanitarian truce collapsed on August 24, 2022. In a statement today, the bank says the heightened level of conflict and fragility in Ethiopia “is of great concern.” Multiple shocks including conflicts and historic drought have severely impacted millions of Ethiopians, jeopardizing the economic and social development progress the country has achieved in recent years.…

08 Aug

War, conflicts cost USD 3.6 billion in recovery

ethionegari@gmail.com0 CommentsNewsAddisAbaba, EthioNegari, Ethiopia, WorldBank

Damage to health and education infrastructure in six regions of Ethiopia resulting from conflicts need a USD 3.6 billion recovery budget, according to a new Recovery and Rehabilitation Plan document released by the Ministries of Health and Education. The ministries outlined an intervention plan for the five-year rehabilitation project that will be implemented in three phases. The recovery intervention plan is part of the “Response – Recovery – Resilience” project launched by the Ministry of Finance in March 2022. The ministries assessed the damage that occurred in Tigray, Afar, Amhara, Benishangul-Gumuz, Oromia, and Konso zones of the Southern Nations Nationalities…

21 Jul

UN, World Bank Envisage Sovereign Green, Social & Sustainable Bond Market in Africa

ethionegari@gmail.com0 CommentsNewsAddisAbaba, EthioNegari, Ethiopia, UN, WorldBank

The development of a Green, Social and Sustainable (GSS) sovereign bond market in Africa was discussed in a workshop co-organized by the UN Economic Commission for Africa (ECA) and the World Bank on Tuesday. In a meeting held virtually, technical experts discussed the importance of building awareness and exploring the potential issuance of GSS bonds in Africa by sovereign issuers or subnational entities. New market trends such as the inflation-linked green bond issuance from France and the Colombia local currency twin green bond issuance, and the plans for future issuances were also among the discussion points. Innovative financing solutions are…

08 Jul

World Bank Reaffirms Commitment to support Ethiopia

ethionegari@gmail.com0 CommentsNewsAddisAbaba, EthioNegari, Ethiopia, WorldBank

Deputy Prime Minister and Foreign Minister, Demeke Mekonnen on Thursday held a discussion with The World Bank Managing Director of Operations, Axel van Trotsenburg, in the Senegalese capital Dakar. The ministry of foreign affairs (MoFA) in a statement issued after the meeting said Trotsenburg expressed the World bank’s confidence in Ethiopian Government the peace efforts and pledged economic and societal reforms that the Government will undertake in the next three years. The World Bank Managing Director of Operations, specifically, mentioned the Bank’s interest to support Ethiopia’s efforts in rebuilding infrastructure and transforming agriculture, as well as regional integration endeavors. Deputy Prime…

24 Jun

World Bank Approves $2.3bln Plan to Support Food Security in East, South Africa

ethionegari@gmail.com0 CommentsEnvironmentAddisAbaba, EthioNegari, Ethiopia, WorldBank

The World Bank announced on Wednesday that it has approved a $2.3 billion program to help countries in Eastern and Southern Africa increase the resilience of the region’s food systems and ability to tackle growing food insecurity. Food system shocks brought on by extreme weather, pest and disease outbreaks, political and market instability, and conflict are becoming more frequent and severe, putting more people at risk of food insecurity. The war in Ukraine is further exacerbating these effects by disrupting the global food, fuel, and fertilizer markets. As a result, The World Bank said an estimated 66.4 million people in the…