The Commercial Bank of Ethiopia (CBE) is set to receive $660 million loan from the World Bank. The World Bank is finalizing the details of a $700m loan to bolster Ethiopia’s financial system. $660m of it will directly finance the Commercial Bank of Ethiopia’s recapitalization.
The loan was initially scheduled to go before the board of directors on 17 September. But it will be studied and approved at a later date.
World Bank and IMF have signed several financing agreements with the Ethiopian institutions recently. This monetary support, worth billion of dollars, it is being said, will transform the Ethiopian economy.
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Ethiopian Ministry of Finance Raises Public Sector Salaries
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