New Business Ethiopia

The Government of Ethiopia has obtained close to 142.3 billion birr (about $3.95 billion) external financing for its different projects and programs during the budget year concluded July 7, 2020, the Ministry of Finance said.

NEWS- The 18 commercial banks in Ethiopia have disbursed a total loan of 221 billion birr (about $6.44 billion at the current exchange rate) to their customers during the first ten months of the budget year started July 2019.

The World Bank provides $82 million assistance to the Government of Ethiopia for the fight against the spread of coronavirus (COVID-19) pandemic.

The Board of Directors of the African Development Bank has approved a $129.4 million (ZAR 2.011 billion) loan to finance the Namibia Economic Governance and Competitiveness Support Programme, EGCSP.

Chinese Foreign Minister Wang Yi, who arrives Addis Ababa on Thursday for official visit, expressed his country’s support to the reform Ethiopia is currently undertaking.

In a bid to help Uganda improve heath and productivity in the country’s major towns, the African Development Bank has approved a $62 million concessional loan to finance its Strategic Towns Water Supply and Sanitation Project (STWSSP).

The Board of Directors of the African Development Bank has approved EUR 200 million loan to support inclusive and Sustainable Development of Agricultural Value Chains in Morocco.

A new report predicts double digit growth of Ethiopia’s banking industry. Ethiopia’s commercial banking sector will post a steady expansion over 2017, with both loan and deposit growth continuing on a strong upward trend, according to Business Monitor International (BMI) latest report on banking industry of Ethiopia.