Ethiopia Approves New Foreign Loans for Pastoralist, Safety-Net Programs

-Cabinet forwards two financing agreements worth more than $190 million and SDR 146 million to Parliament

Ethiopia’s Council of Ministers on Tuesday approved two new external financing agreements aimed at supporting pastoralist livelihoods and the country’s flagship Safety-Net project, forwarding the deals to the House of Peoples’ Representatives for ratification.

In its 55th regular session, the Cabinet endorsed a USD 46.3 million loan agreement from the African Development Bank to finance a pastoralist food security and livelihood improvement project, according to a statement from the Office of the Prime Minister.

The Council also approved a separate financing package of SDR 146.1 million from the International Development Association for the sixth phase of Ethiopia’s Productive Safety Net Program.

The government said both agreements were reviewed for consistency with Ethiopia’s public debt management policy before being unanimously endorsed by ministers.

The approvals come as Ethiopia continues to rely on multilateral financing to support social spending and rural development amid ongoing fiscal pressures and economic reforms.

Officials said the draft proclamations would now be submitted to Parliament for final approval.

المصدر: The Reporter (Ethiopia)