Nation Obtains Over 39bln Br in Grant & Loan In Six Months

ADDIS ABEBA – Ethiopia has secured over 39 billion birr in grant and loan in the first half of this fiscal year, the Ministry of Finance revealed on Tuesday.

The funds were secured from multilateral financial institutions such as World Bank, African Development Bank (AfDB), European Investment Bank and IFAD), EU and UN agencies as well as development partners.

Of the total, over 16 billion birr (2.668 billion loan& 13.370 billion grant) was obtained from multilateral sources, the ministry said.

The remaining 23 billion birr (9.340 billion loan& 13.880 billion aid) was secured from development partners, it added.

The country also secured over 54.5 billion birr loan and grant (28.769 billion loan& 25.759 billion grant) from the same sources for the implementation of projects and programs.

Overall, the ministry announced the debt burden of Ethiopia has fallen from high risk to moderate over the past six months of this Ethiopian budget year.

The decline in the debt burden risk was due to change of the extension of debt payment of commercial loan by the Government of China to concessional loan, said Haji Ibsa, Public Relations Information Director of the ministry, at a press briefing on Tuesday.

[Photo File]