Ethiopia and the World Bank
From Wikipedia the free encyclopedia
 | This article may rely excessively on sources too closely associated with the subject, potentially preventing the article from being verifiable and neutral. (December 2019) |
The relationship between Ethiopia and the World Bank was formalized on December 27, 1945.[1]
Ethiopia's first projects approved by the World Bank supported the building of infrastructure such as roads and highways during the 1950s. Ethiopia first sought a loan for "Highway Project (01)", which was approved on September 13, 1950. This loan had a total commitment value of $5 million.[2] The goal of the project was to repair, rebuild, and construct new roads in Ethiopia after the Italian occupation from 1935 to 1941.[3]
Ethiopia joined the International Finance Corporation (IFC) on July 20, 1956[4] and the International Development Association (IDA) on April 11, 1961.[5]
Ethiopia joined the Multilateral Investment Guarantee Agency (MIGA) on August 13, 1991.[6] However, Ethiopia did not join the International Centre for Settlement of Investment Disputes (ICSID).[7]
As Ethiopia is one of the poorest countries in Africa, in 2005 Ethiopia received a 100% loan debt relief from the World Bank, International Monetary Fund, and the African Development Bank.[8]
The World Bank will contribute $300 million in May 2022 to help Ethiopia's conflict-affected regions recover and be rebuilt.[9]
Voting powers in the World Bank Group
[edit]International Bank for Reconstruction and Development (IBRD)[10]
- Total Subscriptions - Amount 147.0 / Percent of Total 0.06
- Voting Power - No. of Votes 2,201 / Percent of Total 0.09
International Finance Corporation (IFC)[11]
- Total Subscriptions - Amount 127 / Percent of Total 0.00
- Voting Power - No. of Votes 942 / Percent of Total 0.03
International Development Association (IDA) Part II Countries[12]
- Voting Power - No. of Votes 49,232 / Percent of Total 0.17
Multilateral Investment Guarantee Agency (MIGA) Part II Countries[13]
- Total Subscriptions - Amount 1.23 / Percent of Total 0.07
- Voting Power - No. of Votes 349 / Percent of Total 0.16
Projects
[edit]Ethiopia has received approval for large projects, including:[14]
- One WASH - Consolidated water Supply, Sanitation, and Hygiene Account Project (One WASH - CWA)
- Ethiopia Climate Action Through Landscape Management Program For Results
- Renewable Energy Guarantees program
- Lowlands Livelihood Resilience Project
- Ethiopia Growth and Competitiveness
References
[edit]- ^ "Member Countries".
- ^ "Projects in Ethiopia".
- ^ Carter, Ian (18 June 2018). "How Italy Was Defeated in East Africa in 1941".
- ^ "Member Countries #3".
- ^ "Member Countries #2".
- ^ "Member Countries #4".
- ^ "Member Countries #5".
- ^ "Economy". Britannica.
- ^ "Ethiopia, World Bank agree $300 mln grant for reconstruction". Reuters. 2022-05-17. Retrieved 2022-05-17.
- ^ "International Bank For Reconstruction and Development Subscriptions and Voting Power of Member Countries" (PDF).
- ^ "International Finance Corporation Subscriptions and Voting Power of Member Countries" (PDF).
- ^ "International Development Association Voting Power of Member Countries" (PDF).
- ^ "Multilateral Investment Guarantee Agency Subscriptions and Voting Power of Member Countries" (PDF).
- ^ "Projects in Ethiopia".
