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The relationship between Ethiopia and the World Bank was formalized on December 27, 1945.[1]
Ethiopia's first projects approved by the World Bank supported the building of infrastructure such as roads and highways during the 1950s. Ethiopia first sought a loan for "Highway Project (01)", which was approved on September 13, 1950. This loan had a total commitment value of $5 million.[2] The goal of the project was to repair, rebuild, and construct new roads in Ethiopia after the Italian occupation from 1935 to 1941.[3]
Ethiopia joined the International Finance Corporation (IFC) on July 20, 1956[4] and the International Development Association (IDA) on April 11, 1961.[5]
Ethiopia joined the Multilateral Investment Guarantee Agency (MIGA) on August 13, 1991.[6] However, Ethiopia did not join the International Centre for Settlement of Investment Disputes (ICSID).[7]
As Ethiopia is one of the poorest countries in Africa, in 2005 Ethiopia received a 100% loan debt relief from the World Bank, International Monetary Fund, and the African Development Bank.[8]
The World Bank will contribute $300 million in May 2022 to help Ethiopia's conflict-affected regions recover and be rebuilt.[9]
^"Member Countries".
^"Projects in Ethiopia".
^Carter, Ian (18 June 2018). "How Italy Was Defeated in East Africa in 1941".
^"Member Countries #3".
^"Member Countries #2".
^"Member Countries #4".
^"Member Countries #5".
^"Economy". Britannica.
^"Ethiopia, World Bank agree $300 mln grant for reconstruction". Reuters. 2022-05-17. Retrieved 2022-05-17.
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