Jun 27 , 2026
The Council of Ministers, chaired by Prime Minister Abiy Ahmed (PhD), has approved Ethiopia’s accession to the New Development Bank alongside financing agreements and policy reforms aimed at strengthening development funding, urban governance and public services. At its 57th regular session, the Council endorsed three International Development Association loan agreements worth 437.4 million SDRs for sustainable and inclusive growth policies, 145.5 million SDRs for community-based land management, and 54.6 million SDRs for climate-resilient irrigation. Ministers also approved draft regulations introducing service fees for the Ministry of Water & Energy, the Ethiopian Archives & Library Service, and the Educational Assessment & Examinations Service (EAES). The Cabinet said joining the New Development Bank would expand access to alternative development financing, with the draft proclamation now forwarded to the House of Peoples’ Representatives. It also endorsed revised construction and urban development policies in response to rapid urbanisation, technological change, and rising infrastructure demand.
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