AFREEQUE
URGENT
◆Sudanese RSF general defects to the army
◆Sudanese RSF general defects to the army
Football
🇪🇹 EthiopiaBusiness

Ethiopia reallocates $543 million from World Bank funds to fuel

By , based on Addis Fortune

Ethiopia reallocates $543 million from World Bank funds to fuelVictorgrigas · CC BY-SA 3.0

Ethiopia is reallocating up to $543 million from projects already funded by the World Bank to cushion the rise in fuel and essential goods prices, according to Addis Fortune. The shift comes as the Bretton Woods institution considers emergency aid for 30 to 40 countries hit by an energy surge linked to tensions in the Middle East.

The Ethiopian government plans to reallocate up to $543 million in funding already granted by the World Bank to support supplies of fuel and essential goods amid the energy shock caused by the crisis in the Middle East, Addis Fortune reports.

The operation involves using funds from existing projects rather than relying solely on new resources. The World Bank is meanwhile examining emergency assistance for 30 to 40 countries facing the consequences of higher energy costs, according to Addis Fortune.

Share this article

Related stories

Benin's external debt reaches $16.9 billion, up 16.5%

Benin's external debt reached $16.9 billion at the end of 2025, up 16.5% year on year, against $3.6 billion in 2015, according to the World Bank's International Debt Report 2026 published on 5 November. The stock, dominated by multilateral ($6.2 billion) and private ($5.1 billion) creditors, represents 373% of exports and 70% of the country's gross national income.

🇧🇯 Benin · Source: La Nouvelle Tribune ·

Ethiopia speeds up water projects with World Bank

Ethiopia and the World Bank agreed to accelerate water and sanitation projects, extend the One WASH National Programme until 30 June and release outstanding funding. Talks also covered water resource management and administrative reorganisation, according to Ethiopia’s Ministry of Water and Energy.

🇪🇹 Ethiopia · Source: Fanamc ·

Awash Bank raises profit to 38.3 billion birrs

Awash Bank posted a record gross profit of 38.3 billion birrs, up 49.2%, for the year ended 30 June. Its deposits rose 41% to 469.3 billion birrs, far exceeding its loans, according to Addis Fortune.

🇪🇹 Ethiopia · Source: Addis Fortune ·

Ethiopian banks may hold foreign investors’ assets

Ethiopian commercial banks may serve as custodians for foreign portfolio investors without creating separate subsidiaries. Capital market regulators describe the measure as a temporary exemption from a directive by the National Bank of Ethiopia, according to Addis Fortune.

🇪🇹 Ethiopia · Source: Addis Fortune ·

🇪🇹 Latest from Ethiopia

Map: EthiopiaTemesgen makes Ethiopian Islamic heritage a lever for developmentEthiopian Deputy Prime Minister Temesgen Truneh presented the country's Islamic heritage as a national asset to be preserved and developed for development, tourism and social cohesion. He was speaking at the close of the first regular assembly of the year of the Ethiopian Islamic Affairs Supreme Council, recalling the role of the Kingdom of Aksum in the first Hijra, according to Fanamc.All Ethiopia news →

Business in East Africa

Tanzania launches industrial programme with UNIDO through 2031Tanzania launches industrial programme with UNIDO through 2031Tanzania launches an industrial programme with the United Nations Industrial Development Organization covering 2026-2031. It is to boost local resource processing, investment, skills, innovation and market access under Vision 2050, according to TanzaniaInvest.All Business news →

The week in Africa

This week’s highlights

  1. Nigeria beat Japan 2-1 to win U17 Women's World Cup🇳🇬 Nigeria
  2. Goïta ends Niger and Burkina Faso tour with support for AES🇲🇱 Mali
  3. South Africa local election results reach 99%🇿🇦 South Africa
  4. Cristiano Ronaldo ends international career with Portugal🇵🇹 Portugal
  5. Kigali opens artificial intelligence and cybersecurity training centre🇷🇼 Rwanda
All of this week’s highlights →

Africa in your inbox

Be the first to get our letter in English: the essentials from every region of the continent, free.

← Back to the news