Ethiopia Economic Opportunities Program (WB-P163829)

Countries
  • Ethiopia
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 26, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
FEDERAL MINISTRY OF FINANCE AND ECONOMIC
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 202.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 333.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Feb 27, 2019

Disclosed by Bank Jul 8, 2017


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Project Description

The development objective of Economic Opportunities Program Program-for-Results Project is to provide economic opportunities for Ethiopians and refugees in an environmentally and socially sustainable way. Ethiopia is a landlocked country that has experienced impressive growth and gains in development in the past two decades. Despite accelerated progress, Ethiopia remains challenged by the need to create economic opportunities for its fast-growing population of over 100 million, including for an estimated 20 million Ethiopians living below the poverty line. A hybrid Program for Results (PforR) and Investment Project Financing (IPF) operation is chosen to address the mix of policy actions, investment activity, and technical assistance to achieve the desired outcomes of the Economic opportunities program. The Economic opportunities program will support a subset of the government’s jobs compact program. The activities supported by the PforR constitute the boundary of the program and have been selected based on the World Bank Group’s strengths and ongoing development operations.

Investment Description
  • World Bank (WB)
Contact Information
Name of Agency: Ethiopian Investment Commission
Contact: Dr. Belachew Mekuria Fikre
Title: Deputy Commissioner
Tel: +251 11 551 0033
Email: Belachew.Mekuria@Ethio
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invest.com

ACCOUNTABILITY MECHANISM OF WORLD BANK

The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.