Ethiopia Receives $70 Million World Bank Loan to Improve Governance


Ethiopia Receives $70 Million World Bank Loan to Improve Governance

The Ethiopian government has secured a 70-million-dollar concessional loan from the World Bank to support its efforts to modernize public administration and improve financial management. The loan will be used to implement the Governance Modernization to Enable Efficient Service Delivery Project, which aims to enhance the government's capacity to mobilize and manage its financial and human resources. The project will focus on three key areas: strengthening public administration through data-driven HR practices and competency-based recruitment, improving domestic revenue mobilization through enhanced taxpayer services and technology, and advancing public financial management by scaling up digital solutions and addressing process deficiencies. The agreement was signed virtually by Ethiopian Finance Minister Ahmed Shide and Maryam Salim, the World Bank's new Country Director for Ethiopia. The agreement comes on the heels of an IMF delegation’s recent visit to Addis Abeba which praised the Ethiopian authorities for their efforts and recommended the disbursement of a separate 345 million dollars in financing, upon the Executive Board’s approval.

[ssba-buttons]

Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...