WEDP -FINANCING FEMALE ENTREPRENEURS IN ETHIOPIA

Promoter – Financial Intermediary

DEVELOPMENT BANK OF ETHIOPIA

Location

• Ethiopia

Description

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.

Objectives

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.

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).

Sector(s)

• Credit lines - Credit lines

Proposed EIB finance (Approximate amount)

EUR 30 million

Total cost (Approximate amount)

Not applicable.

Environmental aspects

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

Procurement

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

Status

Signed - 19/11/2018