12 August 2017

Ethiopia: IDA Targets to Commit U.S.$4.6 Billion to Ethiopia

Photo: ZeGhion/Wikimedia
Bahir Dar city centre.

The International Development Association (IDA), a wing of the World Bank, has allocated a 4.6 billion dollar loan to Ethiopia for 2018. The Association's priority areas will be water supply, sanitation, education, trade, logistics and development of woman entrepreneurship.

Ethiopia has active IDA commitments of 7.8 billion dollars as of August 2017, with a record lending of 1.78 billion dollars two years ago and 900 million dollars last year. IDA's envelope for Ethiopia is 3.8 billion dollars for the year 2017.

Established in 1960, IDA aims to support the world's poorest countries by providing grants and zero-interest loans for projects and programmes that boost economic growth, reduce poverty, and improve people's lives. IDA is one of the largest sources of assistance for the world's 77 poorest countries, of which 39, including Ethiopia, are in Africa.

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