WB, Gov't Join Hands for Urban Dev't Programme

Feb 8 , 2020

Ethiopia has started conducting the third phase of the Urban Institutional & Infrastructure Development Programme that targets 117 urban areas at a cost of 859 million dollars. The consultancy programme was implemented in 19 urban areas in the first phase and 44 urban areas in the second, according to the Ministry of Urban Development & Construction. The programme, which began 11 months ago under the aegis of the World Bank and the government, created more than 800,000 jobs for the youth. The aim of the operation is to alleviate the performance of the urban local governments to expand and maintain urban infrastructure, services, and local economic development. The first phase was launched in 2008 with 300 million dollars in funding from the World Bank and 116 million dollars from the government. The second phase commenced in 2014 with the World Bank funding 380 million dollars and the government contributing 176.6 million dollars.


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...