The World Bank’s Board of Executive Directors today approved $1.2 billion ($600 million grant and $600 million credit) from the International Development Association (IDA)* in support of the Government of Ethiopia’s policies designed to accelerate economic growth and achieve its vision of becoming a lower-middle-income country.
The Government of Ethiopia has embarked upon a path of political and economic transformation. In addition to measures that build peace with Eritrea, the Government has recently broadened the political space to include opposition parties, actively engaged in regional diplomacy, and announced a range of economic reforms designed to revitalize the economy by expanding the role of the private sector. This includes plans to gradually open up the economy and introduce competition to and liberalize sectors that have been dominated by key state-owned enterprises (SOEs). In light of these sweeping reforms, the Government has requested technical and financial support for the international community to implement its new pathway to growth. The World Bank’s new operation responds to that request.
The newly instituted Board of the Private and Public Partnership (PPP) has approved 17 major hydropower and highway projects, costing USD 6.5 billion for private sector involvement under the newly drafted PPP framework. Teshome Tafesse (PhD), director general of the Office of Public Private Partnership (PPP) with the Ministry of Finance and Economic Cooperation (MoFEC), has briefed both The Reporter and Ethiopian News Agency (ENA) on Thursday that a total of 3000 megawatt generating hydro and solar power projects will be developed in partnership with foreign private companies at an estimated cost of USD 5.3 billion.
Following the approval of the Board, five major hydro power and eight solar power projects have been potentially identified as megaprojects. Genale Dawa 6, Genale Dawa 5, Chemoga-Yeda I&II, Halele Warabessa, Dabus hydro power projects with the generating capacity of 2071 megawatt of electricity at a cost of USD 4.093 billion are already underway, mostly to be developed and owned independently by private firms over a period of 20 to 25 years of concessions.
Deadline date: 19 October 2018
Acting on behalf of the Ethiopia Electric Agency (EEA), Ethiopian Electric Power (EEP) seeks consulting services for the provision of training programmes. The consultant is expected to develop and provide various training schemes that are divided into five modules with the following titles:
The larger goal of blending is a noble one and it is time that a common understanding is achieved among the blenders of capital so that both sides know what to expect. Blended finance is in fashion in the development finance world. It refers to the merging of public and private funds to maximize development impact and is most often called upon in reference to meeting the sustainable development goals (SDGs) that countries valiantly agreed to in 2015.
Blended finance is talked about as a mechanism to reduce investment risks associated with things such as basic healthcare, energy access and livelihood for the poorest. The phrase is being floated at all manner of international gatherings—from meetings of the World Bank to those of the Organisation for Economic Co-operation and Development (OECD), as a way to make the limited pool of $140 billion international public funds go farther.