The Council of Ministers has approved two World Bank loans totaling $579 million. Of this amount, $525.7 million will support Ethiopia's financial sector, while $53.3 million will finance reforms aimed at modernizing government services. The loans are interest-free, carry a 0.75% service charge, and are repayable over 38 years, including a 6-year grace period.
During a regular session, Prime Minister Abiy Ahmed’s Cabinet endorsed the bills, confirming they align with Ethiopia’s debt policy. The bills will now be forwarded to Parliament for ratification.
In addition, the Council revised the investment incentives regulation to address investor concerns and approved the dissolution of the Public Enterprises Holding and Administration Agency, transferring its responsibilities to the Liability and Asset Management Corporation. Both regulations will take effect upon publication in the Negarit Gazette.
Source: linkUpbusiness
@Ethiopianbusinessdaily
During a regular session, Prime Minister Abiy Ahmed’s Cabinet endorsed the bills, confirming they align with Ethiopia’s debt policy. The bills will now be forwarded to Parliament for ratification.
In addition, the Council revised the investment incentives regulation to address investor concerns and approved the dissolution of the Public Enterprises Holding and Administration Agency, transferring its responsibilities to the Liability and Asset Management Corporation. Both regulations will take effect upon publication in the Negarit Gazette.
Source: linkUpbusiness
@Ethiopianbusinessdaily