Category: World Bank in Ethiopia

World Bank Acknowledges Shortcomings in Resettlement Projects, Announces Action Plan to Fix Problems

WASHINGTON —Acting on internal World Bank reports that identified serious shortcomings in the implementation of its resettlement policies, the World Bank today released a plan that will improve the oversight and management of resettlement practices to ensure better protection of people and businesses affected by Bank-funded projects. Three reports, which reviewed over two decades of

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World Bank: Address Ethiopia Findings Response to Inquiry Dismissive of Abuses

(Washington, DC) – The World Bank should fully address serious human rights issues raised by the bank’s internal investigation into a project in Ethiopia, Human Rights Watch said in a letter to the bank’s vice president for Africa. The bank’s response to the investigation findings attempts to distance the bank from the many problems confirmed

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Response to Inquiry Dismissive of Abuses appeared first on 6KILO.com.

Can Ethiopia’s Resource Wealth Contribute to its Growth and Transformation?

WORLD BANK ADDIS ABABA, January 27, 2015 – Ethiopia has averaged a 10.7% economic growth rate over the last 10 years, more than double the annual average of countries in Sub-Saharan Africa, which was around 5.2%. However, despite having a huge potential to contribute to Ethiopia’s economy, the development of oil, gas, and mineral resources

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Leaked Report Says World Bank Violated Its Own Rules In Ethiopia

ICIJ | By Sasha Chavkin This article was reported by the International Consortium of Investigative Journalists, a Washington DC-based global network of 185 reporters in 65 countries who collaborate on transnational investigations. Internal watchdog finds link between World Bank financing and Ethiopian government’s mass resettlement of indigenous group The World Bank repeatedly violated its own

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Where will huge state investments lead Ethiopia?

By Andualem Sisay, The East African From thousands of kilometres of railways and highways to mega dams to tens of thousands of partially government-sponsored houses to cobblestone roads, Ethiopia is a nation under-construction. About a fifth of the 10.3 per cent growth registered in the 2013/14 budget year was attributable to construction activity, according to

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Leaders Commit More than 8 Billions in Major New Development Initiative for the Horn of Africa

PRESS RELEASE UN Secretary-General, WBG and IsDBG Presidents, and other Agency Heads Visit Region to Link Peace Efforts with Economic Progress Addis Ababa, Ethiopia, October 27, 2014—Leaders of global and regional institutions today begin an historic trip to the Horn of Africa to pledge political support and major new financial assistance for countries in the

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Ethiopia picks three banks for debut US dollar Eurobond

Reuters By Michael Turner and Helene Durand LONDON,(IFR) – The Federal Democratic Republic of Ethiopia has picked BNP Paribas, Deutsche Bank and JP Morgan to arrange a debut US dollar-denominated Eurobond, according to sources. The bond is likely to have a minimum 10 year tenor, according to a source. The banks declined to comment. Ethiopia

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World Bank approved a US$600 million International Development Association credit to Ethiopia

World Bank PRESS RELEASE WASHINGTON – The World Bank’s Board of Executive Directors today approved a US$600 million International Development Association (IDA*) credit to Ethiopia for the Productive Safety Nets Project 4 (PSNP4). The funds will be used to expand access to safety net and disaster risk management systems, as well as provide nutrition services and income support

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Ethiopia’s state enterprises transparency, debt worries World Bank

The East African   As state-owned enterprises in Ethiopia continue expanding in the economy with huge investments, the World Bank advised the government to improve transparency and credibility of information. “As the country plans to become a middle income country, consistency, transparency and credible information about state owned enterprises are very, very important,” said Sri

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