Council Approves over $300m Concessional Loans

Sep 2 , 2023


[ssba-buttons]

The Council of Ministers approved a series of concessional loans from the Italian government and the International Development Association (IDA) during its 24th meeting last week. These loans are concessional with little or no interest rates and payback periods of up to 38 years along with grace periods reaching up to 16 years. The hefty sum of 300 million dollars in financial package from the IDA, a subsidiary of the World Bank that offers concessional loans and grants to the world's poorest developing countries, will primarily be geared towards the development of electricity infrastructure in rural Ethiopia and the development of human resources. While this loan is interest-free it stipulates a 0.75pc service charge to the Association for its services. Out of the 56 million to be received from the Italian government 10 million euros will be allocated to improve the coffee supply chain, 24 million will be geared towards investment in agroindustry in rural Ethiopia while the rest is set aside for water infrastructure development projects in Wabi Shebele and Awash rivers.


Radar

Ethiopia Unveils Consortium to Insure Millions of Farmers

Ethiopia has launched its Agricultural Insurance Consortium (AICE), pledging to protect three million farmers by 2026. Announced on July 3, 2025, at the Hyatt Regency, the initiative is backed by Pula Advisors and five major Ethiopian insurers. AICE plans to promote climate resilience through insurance bundled with the government's input voucher system. Leveraging AI platforms like Mavuno and PIE, it plans to standardise products, lower costs, and expand coverage to over 200 woredas. With agricu...


Radar

New Coopbank Partnership Targets Youth Economic Empowerment

The Cooperative Bank of Oromia (Coopbank) has signed a strategic agreement with Melka Ethiopia to provide loan services to over 120,000 young men and women nationwide. The partnership plans to promote youth economic empowerment by expanding access to finance and creating jobs, with a strong focus on rural and underserved areas. Both institutions held joint discussions to explore ways to improve youth livelihoods and financial inclusion. By closing access gaps, the partnership is expected to help...


Radar

Ethiopian Netpreneur Program Training Kicks Off

The Ethiopian Netpreneur 2025 Training Program has officially launched its first cohort in Addis Abeba with 64 entrepreneurs beginning their first round of training. Organised by the Global Digital Talent Academy, the initiative plans to empower local business owners, startup founders, and digital sector players with global-level e-commerce skills. At the launch event, Innovation and Technology Minister Belete Mola (PhD) urged participants to leverage the opportunity to build networks and shape...