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Signature(s)

Amount
€ 30,000,000
Countries
Sector(s)
Ethiopia : € 30,000,000
Credit lines : € 30,000,000
Signature date(s)
19/11/2018 : € 30,000,000

Summary sheet

Release date
28 June 2018
Status
Reference
Signed | 19/11/2018
20170469
Project name
Promoter - financial intermediary
WEDP -FINANCING FEMALE ENTREPRENEURS IN ETHIOPIA
DEVELOPMENT BANK OF ETHIOPIA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 30 million
Not applicable.
Location
Sector(s)
Description
Objectives

The project consists of a senior loan to the Federal Republic of Ethiopia, acting through the Ministry of Finance and Economic Cooperation, to be on-lent to female entrepreneurs via Micro Finance Institutions (MFIs). This operation co-finances the second phase of the World Bank's Women Entrepreneurship Development Project (WEDP), implemented by the Development Bank of Ethiopia (DBE). The DBE will act as an apex entity to select and fund MFIs.

This project will develop women-run small and medium enterprises with potential to grow and generate employment. This is achieved by tailoring financial instruments to the needs of the participants, ensuring availability of finance, and developing entrepreneurial and technical skills.

Environmental aspects
Procurement

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Comments

The operation consists of a co-investment in the Ethiopia WEDP. Started in 2012, the WEDP was designed and funded by the World Bank through a USD 50m International Development Association (IDA) concessional loan extended to the Government of Ethiopia. The operation will co-finance the phase 2 of the project alongside contributions from the Italian Ministry of Foreign Affairs and International Cooperation and the Japan International Cooperation Agency (JICA).

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
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Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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