Ethiopia Competitiveness and Job Creation Project-Additional Financing (WB-P164429)

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
U
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 25, 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
Ministry of Finance and Economic Development, Federal Democratic Republic of Ethiopia
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)
$ 175.00 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)
$ 175.00 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 Jan 1, 2014


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Project Description

The objective of the Additional Financing for the Competitiveness and Job Creation Project for Ethiopia is to contribute to job creation by attracting investments and improving competitiveness of enterprises in the targeted industrial zones and their linked domestic enterprises. The project is of strategic importance for Ethiopia as its economic impact remains strong. Its activities are central to supporting the GoE’s industrialization agenda by strengthening the legal, policy, and institutional framework of IPs; providing quality industrial infrastructure for manufacturing in strategic sectors including garment, textiles, and pharmaceuticals; and facilitating stronger economic linkages between the IPs and the local economy. It supports the objective of Pillar 1 of the Country Partnership Framework (CPF) for the period FY18–FY22 (Report No. 115135-ET), to promote structural and economic transformation through increased productivity, revenue generation, export promotion, import substitution and employment creation effects. The AF will not change safeguards arrangements that are currently in place for the parent project. No additional safeguards policies will be triggered and there will be no change in the project’s safeguards category. The overall risk rating is maintained as Substantial to reflect increased economic and political and governance risks and their potential impact on the successful implementation of the project. The current Environmental and Social Impact Assessment (ESIA) and Environmental and Social Management Plan (ESMP) instruments assessed the entire Kilinto IP site and covered the entire scope of the civil works.

Investment Description
  • World Bank (WB)
Contact Information
Industrial Parks Development Corporation
Tessema Geda
Project Coordinator

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.