Ethiopia’s grant and loan disbursement amount from multilateral donors has raised by 96.8 percent in the first quarter of this Ethiopian fiscal year as compared to the same period past year, Ministry of Finance and Economic Cooperation (MoFEC) revealed.

Haji Ibsa Gendo, Public Relation and Communication Directorate Director at the Ministry said Ethiopia has received USD 415.4 million in credit in the last three months of the current fiscal year for the implementation of projects and programs. Haji stated that USD 135 million is grant where as the USD 280.3 million is concessional loan.

The Director also said Ethiopia has additionally received grant and loan disbursement of USD 34.5 million and USD 31 million from bilateral sources. Accordingly, the total grant and loan disbursement Ethiopia received in the first quarter of this budget year from bilateral and multilateral sources goes up to USD 481.7 million.

Ethiopia in the above stated period has signed a commitment agreement with bilateral and multilateral financing partners to receive a grant and concessional loan worth USD 621 million. Out of it, USD 13.7 million is grant where as USD 607.5 million is concessional loan, according to Haji.

Source: Walta Information Center