World Bank approves $1.5 billion funding for Ethiopia

World Bank approves $1.5 billion funding for Ethiopia

The World Bank pledged $16.6 billion of funding to Ethiopia over three years, providing a fillip to eastern Africa’s biggest economy as it restructures its debt and opens up the nation to foreign investors. Bloomberg Africa reports that the International Development Association’s assistance includes a $1 billion grant and a $500 million concessional loan to help the Horn of Africa nation strengthen its financial sector and improve fiscal transparency. According […]

July 31, 2024 13

Africa

Ghana’s finance ministry asks President not to sign anti-LGBTQ+ bill

Ghana's finance ministry has advised against the President's approval of a recent anti-LGBT bill passed by parliament, cautioning potential repercussions including the loss of $3.8bn in World Bank funding over five to six years. The bill, if signed, imposes jail terms for identifying as or promoting LGBT+ activities, sparking opposition from rights activist Linda Baumann. In a highly unusual move, the warning from the finance ministry was leaked to several […]

March 5, 2024 31