The International Development Association (IDA) has awarded a USD 730 million grant to the Horn of Africa Initiative's Regional Economic Corridor Project to enhance the Addis-Djibouti corridor, a vital trade route from Ethiopia to the port of Djibouti.
The International Development Association (IDA) released the US$ 50 million fund for the National Urban Project, benefiting women entrepreneurs running small businesses, Fortune reported.
The World Bank Group’s International Financial Corporation (IFC) is considering a US$ 19 million investment in an international standard hotel in Addis Ababa, Ethiopia, Fortune reported.
Dashen Bank announced recognition from the International Finance Corporation (IFC), a member of the World Bank Group, for its international trade finance services.
An international arbitration center that will settle business disputes in the Intergovernmental Authority on Development (IGAD) region is to be established and based in Djibouti. The decision was made during the Fifth General Assembly of IGAD Business Forum and it was passed unanimously by the participants; Ethiopia, Djibouti, Kenya, Uganda, Sudan, South Sudan and Somalia.
