Home Ethiopian News Abiy Ahmed’s cabinet discussed three loan arrangements, strings attached vague 

Abiy Ahmed’s cabinet discussed three loan arrangements, strings attached vague 

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World Bank Loan arrangements _ Ethiopian gov't
Abiy Ahmed’s government Council of Ministers voting during its 27th session. World Bank Loan arrangements among issues it agreed on. (photo : PD)

Borkena 

Toronto – Abiy Ahmed’s administration council of ministers had its 27th session on Saturday. Among the issues it discussed are three loan agreements with International development Association – part of the World Bank Group – that claims to work with poor countries “to reduce poverty by providing zero to low-interest loans (called “credits”) and grants for programs that boost economic growth, reduce inequalities, and improve people’s living conditions.”

One of the loans is said to be worth U.S$ 300 million and is intended for funding “inclusive digital identity service.” The other loan arrangement is  US$200 million which will be spent on education and training projects ( unspecified). The third loan agreement constitutes a US$ 90 million loan arrangement for program improvement in trade and logistics – according to a statement from the office of the Prime Minister. 

Abiy Ahmed’s office claimed that all the loan arrangements do have six years of grace period and will be paid in 38 years – interest free. Furthermore, the office claimed that the loan arrangements are “compatible with our country’s loan administration policy.” The Council of ministers  has reportedly agreed unanimously and transferred the bill to the House of People’s Representatives. 

Obviously, the statement from the office of the Prime Minister did not hit anything if there are strings attached to the Hundreds of millions of dollars of debt free loan agreement. It remains to be seen if interest free debt – and from the World Bank body- comes without ideological or some other non-financial conditions. 

The Ethiopian government and the Ethiopian Parliaments has been recently facing growing opposition over the Samoa Agreement – which Abiy Ahmed’s government signed in November 2023. The major concern is that some of the articles included in the agreement are intended to legalize homosexuality in Ethiopia – which is a criminal offense in the country. Religious leaders  and opposition parties in the country have strongly opposed the agreement.  

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1 COMMENT

  1. A travesty and a catastrophe to loan a dime to this murderer government! One just needs to look at all the Hitler style violations of human rights posted in many international news agencies, twitter and other media outlets to conclude that the money will be used to buy drones, munitions and other weapons of mass murder and torture. Abiy needs to go. Prosperity needs to go. Oromuma needs

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