France Extends 100m to Ethiopia.

Jun 8 , 2019

The French government pledged a 100-million-euro loan and grant as support to the ongoing economic reform in Ethiopia. The agreement was signed between Ahmed Shide, minister of Finance, and Frederic Bontems, ambassador of France to Ethiopia. The majority of this financing, 85 million euros, is provided through a public policy concessional loan and 15 million euros is provided as a grant for the global technical assistance programme. The public policy loan will aim to support Ethiopia in the implementation of economic reforms by focusing on maximising finance for development, improving the business environment and improving the management, transparency and accountability of public enterprises, according to a statement from the French Embassy in Ethiopia. The government will directly implement a part of this technical assistance programme.


Abyssinia Bank Taps to Digital Loan Solution

The Bank of Abyssinia (BoA) is moving forward to provide banking solutions facilitating microloans. The Bank has hired an Indian-based tech vendor Newgen Software Company, that bagged the international bid on December 22, 2022. Over 10 companies have shown interest in the bid floated by the bank four months ago. The solution provider has committed to completing the project in six months with Yonas Daniel, regional manager for Newgen, and Menbereselassie Gebrekidan, procurement director at Aby...



Bank of Abyssinia rolls out banking services on a truck around Meskel square in the capital. With less than half of Ethiopian adults having access to bank accounts, financial inclusion is a major issue. The central bank revealed in August 2022 that 8,944 commercial bank branches exist in the country. The 30 commercial banks currently in operation offer credit services to less than 400,000 customers charging an average of 17pc interest on asset-backed loans...



Left) Elias Woldu and Mesnbet Shinkute sign a Memorandum of Understanding on behalf of the Ethio-American and Addis Abeba Chamber of Commerce & Sectoral Association, respectively. Some estimates put the number of Ethiopian diaspora living abroad at over two million people, larger than the population of several small nations. Continued economic and political deprivation has forced many to leave the country for better opportunities. While migration to other countries is still high, the number...