12 °c
London
Sunday, February 5, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home AfDB

Ethiopia obtains close to US$3B in grants and loans in 2019/20

Staff by Staff
September 1, 2020
in AfDB, Africa, Banking, Capital Markets, Development, DFI, Economy, Ethiopia, FDI, Finance
Reading Time: 1 min read
809 25
0
Foreign banks in Ethiopia: The thin line in between strategy and law
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

Ethiopia’s Ministry of Finance announced that it has obtained US$2.96B (close to 107 billion birr) from various sources, multilateral and bilateral, in the form of grants and loans in the Ethiopian fiscal year that ended on July 7. The Ministry declared US$1.92B (69.5 billion birr) of this has been obtained from grants, while the rest was secured from loans.

The multilateral sources include the World Bank, African Development Bank, European Investment Bank, European Union, United Nations, among others, and the financial gain from these amounted to US$1.62B (58.66 billion birr). The rest, US$1.34B (48.34 billion birr), was obtained from bilateral sources – US$515.25M (18.619 billion birr) in loans and US$822.48M (29.721 billion birr) grant.

Haji Ibsa, Public Relations Director at the Ministry of Finance, told the media that the total loan grant and loan accounted for 81.3 percent of the target for the stated fiscal year.

Also read: Coveting larger markets: Ethiopia’s bid to join WTO

Mr. Haji mainly attributed the increase in loans and grants to the “encouraging performance of development projects and the increase in [Ethiopia’s] debt repayment”.

According to him, the encouraging performance of development projects and the increase of the country’s debt repayment were among the major factors for the increase in loan and grant agreements.

Source: 2Merkato

Related

Tags: african development bankbank loansDevelopment Finance InstitutionDFIEthiopiaEthiopia obtains close to US$3B in grants and loans in 2019/20European Investment BankEuropean UniongrantsHaji IbsaloansUnited NationsWorld Bankэфиопияأثيوبياエチオピア埃塞俄比亚
ScanSendShare334Tweet209Share58Pin75Send
Staff

Staff

Related Posts

Fintech

Proof of Reserve saves Africa’s crypto Industry from fake blockchain companies

by Web3Africa
February 5, 2023
Travel

Is travelling to Zimbabwe expensive? The truth

by See Africa Today
February 5, 2023
Insight – The rise of Women entrepreneur in Africa
Finance

AfDB provided US$1B to African women entrepreneurs

by FurtherAfrica
February 5, 2023
Travel

Untapped low budget tourist attractions in Nigeria

by See Africa Today
February 4, 2023
Tech

Heifer selects ThriveAgric DigiCow and Brastorne as winners of AYuTe Africa Challenge

by FurtherAfrica
February 4, 2023
Platform Africa 2023
 
Mozambique eVisa
 
MozParks
 

Translate this page

Read the Latest

Fintech

Proof of Reserve saves Africa’s crypto Industry from fake blockchain companies

by Web3Africa
February 5, 2023
0

Third-party auditors conduct crypto audits in blockchain or proof of reserve audits, creating a snapshot of all the company's balances...

Read more

Is travelling to Zimbabwe expensive? The truth

February 5, 2023
Insight – The rise of Women entrepreneur in Africa

AfDB provided US$1B to African women entrepreneurs

February 5, 2023

Untapped low budget tourist attractions in Nigeria

February 4, 2023

Heifer selects ThriveAgric DigiCow and Brastorne as winners of AYuTe Africa Challenge

February 4, 2023

FurtherAfrica Partners Network

The Exchange Club of Mozambique Taarifa Rwanda
TechGist Africa Africa Oil & Power Farmers Review Africa
Tanzania Invest Zambia Invest See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa Web3Africa

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 100,777 other subscribers.
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?